3iQ launches Bitcoin ETF

Toronto-based 3iQ Corp. has filed a final prospectus for its Bitcoin ETF.

The 3iQ CoinShares Bitcoin ETF (ticker: BTCQ) provides investors with exposure to Bitcoin and the daily price movements of the U.S.-dollar price of bitcoin as well as the opportunity for long-term capital appreciation.

The ETF has a 1% annual management fee.

3iQ launched The Bitcoin Fund in April 2020 for accredited investors. The fund company has also filed a preliminary prospectus for an Ether ETF.

Toronto-based Purpose Investments Inc. was the first company to launch a Bitcoin ETF and was followed quickly by other fund companies such as Evolve Fund Group of Companies and CI Global Asset Management.

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