Canada-based investment fund manager 3iQ’s Bitcoin exchange-traded fund created in partnership with Coinshares is now available for trading.
In an announcement from 3iQ today, trading for the 3iQ Coinshares Bitcoin exchange-traded fund, 或ETF, began on the Toronto Stock Exchange today. The fund’s units are trading in U.S. dollars under the ticker “BTCQ.U” and Canadian dollars under the ticker “BTCQ.” Trading opened at $11.89 for BTCQ before dipping to $11.51 and recovering, while units of the Bitcoin ETF in U.S. dollars opened at $9.39 and have since risen 0.4% 在出版时.
The investment fund manager said the ETF was aimed at providing investors exposure to Bitcoin (比特币) based on the movements of the cryptocurrency’s value in dollars, and the opportunity for long-term capital appreciation. The Bitcoin ETF’s management fee is 1%, but 3iQ said it would absorb any other expenses in excess of 0.25%.
Canada has seemingly taken the lead on launching crypto ETFs in North America given the U.S. 证券交易委员会的, 或SEC的, reticence in approving local funds — though many are hopeful given pro-crypto Gary Gensler’s recent confirmation as SEC chair. 3iQ was behind the launch of Canada’s first Bitcoin fund, and filed the final prospectus for the Bitcoin ETF earlier this month.
Including 3iQ’s and Coinshare’s fund, regulators in Canada have approved several crypto ETFs. 上个星期, they gave the green light for Ether (ETH) ETFs from Purpose Investments, Evolve Funds Group, and CI Global Asset Management to begin trading on local exchanges. Both Purpose and Evolve had previously launched Bitcoin ETFs, attracting roughly $1.3 十亿 $100 百万资产管理, 分别.
Canada’s first Bitcoin fund, launched by 3iQ in April 2020, has grown to more than $1 十亿. 一起, Coinshares and 3iQ have $7 十亿资产管理.