New Fund Exposes Canada’s Traditional Investors to Ethereum

In letter

  • Canadian regulators have approved 3iQ’s Ether Fund, which offers traditional investors a new way to get exposure to ETH pricing.
  • 3iQ launched the Bitcoin Fund in early 2020 and offers similar exposure to Bitcoin on the Toronto Stock Exchange.
  • ETH prices must continue to rise before the all-time high and offer potential benefits for investors in the Ether Fund.

Canadians will soon find a new way to get into the growth of Ethereum – but it will go away on December 10th.

3iQ Corp. Based in Canada announced on Thursday The Canadian regulators have approved a prospectus for “The Ether Fund”, which offers more traditional investors the opportunity to get exposure to Ethereum in their portfolios.

The Ether Fund’s initial sale offers stocks through December 10, giving Canadian investors just one week to buy stocks for potentially profitable stake in the event crypto market prices continue to rise. Units purchased during this period determine the original size of the fund, which cannot issue any further units after this date.

The Ether Fund offers shares for sale that represent the ownership of a managed fund that tracks the value of Ethereum and is controlled by 3iQ. Like the existing Bitcoin Fund, investors can buy and sell shares in the Ether Fund on the Toronto Stock Exchange under the symbol QETH.U.

The Ether Fund is following in the footsteps of 3iQ’s Bitcoin Fund, which was launched in Canada in April 2020. Before it can be activated, it must have invested at least $ 20 million by December 10, and the maximum total investment is $ 107.5 million. The Ether Fund offers a product similar to the Grayscale Ethereum Trust. started in December 2017 and Upgrade to an SEC reporting company in October this year.

Founded in 2012, 3iQ has grown to become Canada’s largest digital asset manager with assets under management of more than $ 400 million. In addition to the Bitcoin Fund, 3iQ co-manages a private Global Cryptoasset Fund ether, Bitcoin, and Litecoin, available to accredited Canadian investors only.

Bitcoin funds from 3iQ was approved in October 2019 after several years of collaboration with Canadian regulatory authorities and launched on the Toronto Stock Exchange in April 2020. Less than a year later, investors in this fund will see significant gains of 160% as the price of Bitcoin rose to a new all-time high this week.

Ethereum has lagged behind Bitcoin in terms of pursuing all-time highs, but prices are still up more than 350% since early 2020 and could be set for further gains. Ether’s all-time high is around $ 1,400, which it hit in January 2018.

More and more institutional investors are showing growing interest in digital assets such as Bitcoin and Ethereum, and vehicles like The Ether Fund, make it easier for fund managers to help clients who might otherwise stay away from the volatile asset class.

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