3iQ launches new cryptoasset fund

Toronto-based 3iQ Corp. launched a new cryptoasset fund on Thursday.

The Ether Fund offers investors exposure to Ether, a digital currency, as well as the daily movements of the cryptoasset’s U.S.-dollar price.

Ether is the second largest cryptocoin after Bitcoin and operates on the Ethereum blockchain, a decentralized platform for cryptoassets and smart contracts.

The fund is managed by 3iQ, which launched The Bitcoin Fund in April 2020. 3iQ also manages a private fund for accredited investors called the 3iQ Global CryptoAsset Fund, which invests in Bitcoin, Ether and Litecoin.

The Ether fund raised approximately US$76.5 million during its initial offering. The fund is currently trading on the Toronto Stock Exchange.

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