Canadian Bitcoin ETF attracts $823 million in three weeks

A Canadian exchange-traded fund (ETF) based on the first cryptocurrency from 3iQ Corp and CoinShares has reached C$1 billion in assets under management (about $823 million).

$BTCQ is the fastest bitcoin ETF to reach C$1 billion in AUMhttps://t.co/YdHIQDYPkt pic.twitter.com/0Uwpnd2Q2T

— 3iQ Digital Asset Management (@3iq_corp) May 7, 2021

“The achievement of C$1 billion in just three weeks demonstrates enormous market demand for Bitcoin,” said Fred Pye, CEO of 3iQ.

On April 19, the listing of the 3iQ CoinShares Bitcoin ETF on the Toronto Stock Exchange took place. The instrument trades in Canadian dollars under ticker BTCQ and in US dollars under ticker BTCQ.U.

Earlier in April, Canada approved an Ethereum-based ETF from 3iQ Corp and CoinShares.

On April 28, the U.S. Securities and Exchange Commission (SEC) postponed the review of VanEck’s application to launch a spot Bitcoin ETF until June 17.

If approved, VanEck’s application would launch the first Bitcoin ETF in the United States. The SEC is also reviewing applications from WisdomTree and Kryptoin.

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