Ethereum fund now available on the Toronto Stock Exchange. Canadian digital asset investment manager 3iQ is set to release an IPO of an Ethereum exchange-traded trust, The Ether Fund, on the Toronto Stock Exchange (TSX) under the ticker QETH.U, next week.
The maximum bid to be launched is $100 million and the closing date of the offer will be no later than December 10, 2020. 3iQ has more than $400 million of CAD under management and maintains a focus on Bitcoin, Litecoin and Ethereum.
In a press release on Thursday, 3iQ noted that this listing comes with a patriotic backstory. “The concept of Ethereum was developed in Canada in 2013 and subsequently launched by a group of technologists from all over the world,” the company said.
Traders south of Canada’s borders have shown remarkable appetite for publicly available Ethereum investment vehicles. Despite a price premium which at points creeped upwards of 500% relative to net asset value for ETHE, Grayscale’s Ethereum trust, the digital assets behemoth reports that more and more investors have been piling in.
These funds and trusts are the preferred investment method for many traders who are unable or unwilling to provision their own cryptocurrency custody and security options.
[image: Richard Kidger]
