Canadian firm 3iQ to launch IPO of Ethereum-based ETF

3iQ has received permission to conduct an initial public offering (IPO) of The Ether Fund shares on the Toronto Stock Exchange.

BREAKING:
3iQ’s The Ether Fund IPO is anticipated to close on December 10th, 2020. The Toronto Stock Exchange has conditionally approved the listing under the symbol QETH.U

Contact your financial advisor if you would like to participate in the offering.https://t.co/MmAz6uQjJi pic.twitter.com/W1jdFsXIt4

— 3iQ Corp (@3iq_corp) December 4, 2020

The listing under the ticker QETH.U is scheduled for December 10. The maximum value of the offered shares will be about $107.5 million.

The fund’s investment objectives are to provide holders of securities with:

a) access to the digital currency Ethereum, the price of which, expressed in US dollars, fluctuates daily;

b) the potential for long-term capital growth.

— on the company’s website.

The crypto assets under management by 3iQ exceed CAD 400 million. The firm is focused principally on Bitcoin, Ethereum and Litecoin.

Just over a year ago, 3iQ received approval to launch a Bitcoin investment fund for retail investors. In October this year, began trading of the Bitcoin Fund’s shares under the ticker QBTC on the Toronto Stock Exchange.

Earlier in November, the assets of the Grayscale Ethereum Trust surpassed $1 billion. As of December 5, the figure stood at $1.67 billion.

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