April 17, 2021

Digital asset manager behind Canada’s first BTC fund hopes to launch Bitcoin ETF

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Investment fund manager 3iQ has partnered with Coinshares to launch a Bitcoin exchange-traded fund in Canada. 

According to an announcement from 3iQ, the firm has filed a final prospectus for a Bitcoin (BTC) exchange-traded fund, or ETF, with the securities regulatory authorities in each of the 10 provinces and 3 territories of Canada. Pending regulatory approval, trading for the ETF is expected to begin in early April on the Toronto Stock Exchange.

CoinShares CEO Jean-Marie Mognetti said the joint effort was aimed at “making digital assets more accessible to investors of all types.” The fund’s units will likely trade in U.S. dollars under the ticker “BTCQ.U” and Canadian dollars under the ticker “BTCQ.”

Canadian investment firms have largely taken the lead on launching crypto ETFs in North America given the U.S. Securities and Exchange Commission’s, or SEC’s, seeming reticence in approving a fund. Toronto-based Purpose Investments launched a Bitcoin ETF in February, and Ninepoint Partners is reportedly planning to change its Bitcoin trust offering to an exchange-traded fund as well. Evolve Funds Group also announced in March that it had filed a prospectus withTitle: Digital asset manager behind Canada’s first BTC fund hopes to launch Bitcoin ETF
Sourced From: cointelegraph.com/news/digital-asset-manager-behind-canada-s-first-btc-fund-hopes-to-launch-bitcoin-etf
Published Date: Thu, 01 Apr 2021 23:00:20 +0100

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