Asset manager 3iQ Corp announced the launch of the 3iQ CoinShares Bitcoin ETF — an exchange-traded fund based on the first cryptocurrency. The announcement came in the company’s statement.
The listing of the instrument took place on April 19 on the Toronto Stock Exchange. It trades in Canadian dollars under the ticker BTCQ and in US dollars under BTCQ.U.
Earlier, 3iQ Corp launched Canada’s first Bitcoin fund. It currently manages nearly $2 billion in assets.
In March 2021 CoinShares listed its shares on Nasdaq First North Growth Market in Stockholm. Later the company announced a partnership with the aim of launching a Bitcoin ETF in Canada.
In February, Canada became the first in the world to approve an exchange-traded fund based on the first cryptocurrency. In April, regulators in the country gave permission to launch similar products based on Ethereum.
Horizons ETFs Management launched in Canada an inverse Bitcoin ETF, which allows investors to take short positions in the cryptocurrency.