The 3iQ CoinShares Bitcoin ETF is intended to offer investors exposure to Bitcoin as well as “the opportunity for long-term capital growth”.
3iQ Corp, Canada’s largest asset manager, announced that its 3iQ CoinShares exchange-traded bitcoin fund (ETF) (TSX: BTCQ) has started trading on the Toronto Stock Exchange (TSX).
The company said the ETF will seek to give investors exposure to Bitcoin as well as “the opportunity for long-term capital appreciation”.
“Today is another milestone for the 3iQ team, Bitcoin enthusiasts and investors across Canada. Thanks to our extensive industry expertise, we are pleased to add the 3iQ CoinShares Bitcoin ETF to our offering and, in particular, to work with CoinShares, ”said Fred Pye, Chairman and CEO of 3iQ, in a statement.
The ETF is the fourth Bitcoin ETF listed in Canada and another sign of the country’s increasing willingness to offer crypto trading products to investors.
These developments also follow Canadian regulators’ approval of Ether ETFs last week, putting the North American nation’s streak ahead of its southern neighbor and not yet requiring US regulators to approve any form of Bitcoin ETF.
Bitcoin fell 0.6% to $ 55,293 in London late afternoon on Monday.