CoinShares announces strategic collaboration with 3iQ with launch of the 3iQ CoinShares Bitcoin ETF
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SAINT HELIER, Jersey, April 1, 2021 | CoinShares International Limited, (Nasdaq First North Growth Market: CS) ("CoinShares" or the "Group" or the “Company”) today announced a strategic collaboration with 3iQ Corp (“3iQ”), commencing with the launch of the 3iQ CoinShares Bitcoin ETF (the “ETF”). As part of this collaboration, CoinShares also disclosed a strategic investment in 3iQ, which further aligns the objectives of the two firms.1
Founded in 2012, 3iQ is Canada’s largest digital asset investment fund manager with more than C$2.1 billionin assets under management. 3iQ was the first Canadian investment fund manager to offer a public bitcoin investment fund.
The ETF will be offered in all of the provinces and territories of Canada. The Toronto Stock Exchange (“TSX”), the largest stock exchange in Canada, has conditionally approved the listing of the Units under the symbols “BTCQ.U” (in U.S. dollars) and “BTCQ” (in Canadian dollars), subject to the fulfillment of TSX requirements. 3iQ will act as the investment and portfolio manager of the ETF which is expected to begin trading in early April, 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 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 Bitcoin ETF will increase CoinShares’ brand recognition in the North American asset management market, which is a strategic growth market for CoinShares in 2021.
Jean Marie Mognetti, CEO of CoinShares, commented:
“While global banks are beginning to explore making bitcoin investment products available to their wealthiest clients, at CoinShares, our mission is to provide investors with a variety of options to facilitate investment in digital assets by lowering barriers to entry. In 2015, CoinShares was the first firm in the world to offer regulated, publicly listed exchange traded products that allowed investors to obtain exposure to bitcoin in their portfolios. With inflows into digital asset investment funds exceeding $6B in the first quarter of 2021, and global AUM reaching a new record of $55B2, our team at CoinShares believes digital assets will continue to grow as more investors look for cost-efficient vehicles to access this exciting new asset class. We are actively exploring new ways we can partner with exceptional firms like 3iQ to pursue our mission of making digital assets more accessible to both retail and institutional investors.”
1. This investment was disclosed in the CoinShares Prospectus and Q4 and FY2020 Earnings Report, which can be accessed at https://coinshares.com/investor-relations
2. Sourced from the CoinShares Weekly Digital Asset Fund Flows Report as of 29 March 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 USD 4 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]
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