3iQ files prospectus for secondary offering of Bitcoin Fund

Canada’s first public investment fund devoted to Bitcoin is planning a secondary offering.

Toronto-based investment manager 3iQ Corp. announced that it has filed a preliminary prospectus for a new offering of its closed-end fund, The Bitcoin Fund, which completed its initial public offering earlier this month.

The IPO followed a lengthy review by the Ontario Securities Commission, which resulted in the regulator ultimately approving the new fund despite its initial concerns. Units of the Bitcoin Fund now trade on the Toronto Stock Exchange.

Subject to regulatory approval, the secondary offering is expected to close in May.

Canaccord Genuity Corp. and Echelon Wealth Partners Inc. are leading the deal syndicate, which includes Leede Jones Gable Inc., Mackie Research Capital Corp. and PI Financial Corp.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.