Financial Knowledge

3iq’s ether fund was approved to be listed on the Toronto Stock Exchange

December 6, 2020

3iq, a Canadian investment fund, said recently that its ether fund has been approved to list on the Toronto Stock Exchange. According to the detailed investment statement, ether fund managed by 3iq sold class a units for $10.75 and class F units for $10.53. Ether fund, like bitcoin fund, can be listed on TSX conditionally.

On the premise of meeting the requirements of TSX, class a units will be listed under the code of “qeth. U”, with a plan to raise a minimum of US $10.75 million and a maximum of US $107.5 million. Class F units will not be listed on TSX, but will be reclassified as class a units immediately after the completion of the offering. Ether fund will provide holders with the opportunity to enjoy ether value directly. The fund is non redeemable and aims to realize capital appreciation through long-term holding strategy. In order to attract more buyers, 3iq has no limit on the minimum purchase quantity. Although the fund is operated by 3iq, a Canadian investment fund management company, its investment value is in US dollars.

3iq launched Canada’s first regulated bitcoin investment fund in early April 2020. It also manages two private investment funds, the 3iqbitcoin trust and the 3iq global cryptoasset fund, which started as private placements and are open only to Canadian accredited institutional investors. Earlier this year, 3iq announced that it would merge 3iq bitcoin trust into a bitcoin fund and distribute its class B units in accordance with the prospectus.

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