CoinShares and 3iQ have collaborated to launch the 3iQ CoinShares Ether ETF
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SAINT HELIER, Jersey, April 19, 2021 | CoinShares International Limited, (Nasdaq First North Growth Market: CS) ("CoinShares" or the "Group" or the “Company”) today announces that the Canadian securities regulator have issued a receipt for the final prospectus of the 3iQ CoinShares Ether ETF (the “Ether ETF”).
The Ether ETF’s investment objectives are to provide holders of units of the Ether ETF with exposure to the digital currency Ether and the daily price movements of the U.S. dollar price of Ether, and the opportunity for long-term capital appreciation. 3iQ Corp. (“3iQ”) will act as the investment and portfolio manager of the Ether ETF which, subject to the Ether ETF satisfying the Toronto Stock Exchange’s (the “TSX”) original listing requirements, is expected to begin trading later this month on the TSX in Canadian dollars under the symbol “ETHQ” and in U.S. dollars under the symbol “ETHQ.U”. CoinShares expects to make a material investment in the Ether ETF.
CoinShares is Europe’s largest digital asset manager, with over US$4.5 billion1 in AUM across its family of exchange traded products. As noted in CoinShares’ weekly Digital Asset Fund Flows report, the first quarter of 2021 saw record inflows into digital asset investment products, exceeding flows in Q4 2020. A growing share of these flows have been to Ethereum investment products, as the decentralized finance (DeFi) and Web3 ecosystem continues to grow in adoption and usage, and as investors continue to increase overall exposure to digital assets as evidenced by global fund AUM rising to around $60B.2
“We’re excited to grow our asset management footprint in North America in collaboration with 3iQ, Canada’s largest digital asset manager,” said Jean Marie Mognetti, CEO of CoinShares, “Following our public listing in March of this year, CoinShares continues to pursue an aggressive strategic growth plan, leveraging our deep institutional experience managing digital assets while providing trust and transparency to investors. We are excited to bring our robust capital markets infrastructure and unparalleled expertise and network in the digital asset ecosystem together with 3iQ’s product innovation and distribution capabilities to build a robust suite of digital asset investment products.”
CoinShares announced a strategic investment in 3iQ on April 1, 2021 as well as the filing for the 3iQ CoinShares Bitcoin ETF on the TSX, which launched on April 19, 2021.
CoinShares and 3iQ share similar objectives - to make digital assets more inclusive by facilitating access to investors through a variety of trusted, regulatory compliant investment vehicles that are available in global markets. CoinShares' participation in the Ether ETF will allow 3iQ to leverage the global brand that CoinShares has built over the past 8 years, allowing them to extend their outreach. The 3iQ CoinShares Ether ETF will continue to extend CoinShares’ brand recognition in the North American asset management market, which is a strategic growth market for CoinShares in 2021.
1. As at Monday April 19, 2021
2. Sourced from the CoinShares Weekly Digital Asset Fund Flows Report as of April 12, 2021. This report is updated weekly on Mondays and can be accessed at https://coinshares.com/research/digital-asset-fund...
CoinShares is Europe's largest digital asset investment firm, managing over US$4.5 billion of assets on behalf of its client base. The Group is focused on expanding investor access to the digital asset ecosystem by pioneering new financial products and services that seek to provide trust and transparency when accessing this new asset class.
For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | [email protected]
Investor Relations – Jay Morakis | +1 646 859 5951| [email protected]
Certified Advisor – Mangold Fondkommission AB | +46 (0)8 503 015 50 | [email protected]
This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 9:00pm BST on April 19, 2021.
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