Share this article
Bitcoin ETF From 3iQ and CoinShares Tops C$1B AUM
"Reaching $1 billion in only three weeks speaks to the enormous market demand for bitcoin," said Fred Pye, CEO of 3iQ.
Updated Mar 8, 2024, 4:25 p.m. Published May 7, 2021, 4:09 p.m.
The 3iQ CoinShares Bitcoin ETF has reached over C$1 billion (US$823 million) in assets under management (AUM) after only three weeks of trading on the Toronto Stock Exchange.
- In an announcement Friday, 3iQ said the bitcoin exchange-traded fund launched in partnership with CoinShares has seen enormous demand from investors.
- The bitcoin ETF began trading in Canadian dollars under the ticker BTCQ and in U.S. dollars under the symbol BTCQ.U on the TSX on April 19.
- On April 23, Canadian regulators approved the “3iQ CoinShares Ether ETF” which became the fourth ether ETF to trade on the TSX.
- Besides the ether ETFs, Canada has approved four bitcoin ETFs targeted at crypto-hungry investors. Meanwhile, the U.S. has yet to approve an ETF for any cryptocurrency despite years of applications.
- "Reaching $1 billion in only three weeks speaks to the enormous market demand for bitcoin," said Fred Pye, CEO of 3iQ.
- The management fee for the ETF is 1.00% and 3iQ said it is absorbing any other expenses in excess of 0.25%.
Read more: CoinShares Partners With Canada’s 3iQ to Launch New Bitcoin ETF on TSX
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
More For You
Bitcoin Jumps to $99K as Spiking Coinbase Premium Points to Strong U.S. Buying
Spot BTC prices were at times $300 pricier on Coinbase relative to Binance, suggesting the rally may be driven by heavy demand from American investors.
What to know:
- Bitcoin surged towards $100,000 on Wednesday's U.S. trading session, gaining 3.2% in the past 24 hours.
- The rally coincided with significant spot BTC price premium on Coinbase.
- Fed Chair Jerome Powell called bitcoin a competitor to gold during a panel discussion.
Top Stories
