Digital asset manager who created Canada’s first Bitcoin fund hopes to launch a Bitcoin ETF.

Spread the love

Jean-Marie Mognetti, CEO of CoinShares, claimed that the proposed Bitcoin ETF intends to make “digital assets more available to investors of all kinds.”

3iQ, a Canadian hedge fund company, has collaborated with Coinshares to create a Bitcoin exchange-traded fund.

According to a 3iQ statement, the company has filed a final prospectus for a Bitcoin (BTC) exchange-traded fund, or ETF, with securities regulatory authorities in each of Canada’s ten provinces and three territories. Trading for the ETF is scheduled to begin on the Toronto Stock Exchange in early April, subject to regulatory approval.

CoinShares CEO Jean-Marie Mognetti said that the collaborative project aims to “make digital assets more available to investors of all types.” The fund’s units would most likely trade under the ticker “BTCQ.U” in US dollars and under the ticker “BTCQ” in Canadian dollars.

Despite the Securities and Exchange Commission’s (SEC) evident unwillingness to sanction a fund, Canadian investment companies have largely taken the lead in introducing crypto ETFs in North America. Purpose Investments, headquartered in Toronto, unveiled a Bitcoin ETF in February, and Ninepoint Partners is rumoured to be preparing to convert its Bitcoin trust offering to an exchange-traded fund as well. In March, Evolve Funds Group also reported that it had filed a prospectus with Canadian regulators in order to begin trading an Ether ETF.

RECOMMENDED READ:  How tokenized real estate is making progress, despite regulatory and technological obstacles.

In April 2020, 3iQ will open Canada’s first Bitcoin fund. The fund has now grown to more than $1 billion, with Coinshares and 3iQ managing a total of $7 billion in funds.

“We have been closely following 3iQ’s impressive growth since they secured a historic decision in Canada to approve listed Bitcoin cars,” Mognetti said.

 

 208 Interactions,  4 today

READ ALSO:
Some reasons why Chainlink’s price increase will be sustained.

Chainlink's price had risen by more than 20% in the previous week as of the time of publication. Although the Read more

Top Coinbase’s crypto-risk considerations, revealed

Coinbase has been the main news in the cryptocurrency industry over the last few days, with its public debut via Read more

Why you need to keep an eye on these altcoins: ATOM, BNB, and THOR

Although eight of the top ten altcoins by market capitalisation are on the rise, there are many altcoins with smaller Read more

Token Registry for on-chain identifiers iintroduced by Cardano.

For quite some time, the Cardano Foundation has been working towards a more open network. To support this vision, it Read more

Bitmain’s latest Ethereum ASIC mining rig could not solve the GPU shortage.

A new Ether ASIC mining rig is on the way, but can it support Nvidia's GPU problems? On April 16, Read more

The Nigerian Securities and Exchange Commission (SEC) claims that the central bank’s crypto ban has caused business disruption.

The Nigerian Securities and Exchange Commission says it is collaborating with the central bank to develop a regulatory system for Read more

Lover of “dogs and memes”, Elon Musk accused of pouring “jet fuel” on GameStop and Bitcoin at a critical moment

How much jet fuel is needed to send GameStop, Bitcoin, and Dogecoin to the moon? Depending on where you stand Read more

The Massachusetts Securities and Exchange Commission is attempting to suspend Robinhood’s broker-dealer licence.

According to state authorities, Robinhood has threatened novice buyers. The Securities and Exchange Commission of Massachusetts is attempting to suspend Read more

When it comes to crypto policy, are Biden and Yellen on the same page?

The lack of a centralised regulatory body for digital assets has long been a barrier for crypto-investors in the United Read more

Dogecoin doubles in a single day, bringing its year-to-date profits to 5,000 percent, as the price of Bitcoin falls.

The most famous meme of all time In a single year, bitcoin has increased by 12,600%, resulting in a slew Read more

Leave a Reply

Contact Us