Canadian electronic asset supervisor 3iQ Corp announced Thursday that it has inked a deal with investment company CoinShares to establish a brand new bitcoin exchange-traded fund (ETF).
In a statement, 3iQ Corp stated CoinShares has partnered with the company to establish the new 3iQ CoinShares Bitcoin ETF.
Canada has taken the lead to North America in devoting three bitcoin ETFs to get crypto-curious investors. Even the Securities and Exchange Commission was reticent to provide the green light to an identical car in the U.S., with taken down dozens of suggestions in the past couple of decades. Last month, Brazil got into the action with the acceptance of its initial bitcoin ETF.
3iQ has over C$two billion (US$1.59 billion) in funds under management and recorded that a bitcoin fund to the TSX in April this past year. The 3iQ CoinShares Bitcoin ETF is going to have a 1 percent annual management charge.
Back in March, CoinShares started trading about the Nasdaq First North Growth Market, an alternate stock market for little and medium-sized growth firms in Europe, trading under the ticker CS.
Canada is before the U.S. market using quite a few bitcoin ETFs currently recorded on the TSX. Back in February, Evolve Funds Group along with Target Investment both recorded bitcoin ETFs about the market.
CI International Asset Management obtained regulatory endorsement earlier this month because of the final prospectus for its’CI Galaxy Bitcoin ETF’ – that is currently listed on the TSX under the ticker BTCX.
‘We’ve followed 3iQ’s awesome expansion closely because they obtained a milestone decision in Canada to let recorded bitcoin vehicles,”’ CoinShares CEO Jean-Marie Mognetti stated of their tie-up.