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This announcement and the information contained herein is restricted and is not for release, publication or distribution, in whole or in part, directly or indirectly in, or into or from the United States or any other jurisdiction in which the same would be unlawful.
TORONTO – April 1, 2021 | 3iQ Corp. (“3iQ”) and CoinShares International Ltd. (Nasdaq First North Growth Market: CS)(“CoinShares”), two of the world’s largest digital asset managers, with a combined $7 billion of assets under management, today announced an agreement between them which will pave the way for future strategic collaboration in the digital assets space. The two firms share similar objectives – to make digital assets more accessible to investors through a variety of trusted, regulated investment vehicles that are available in global markets. This agreement builds on CoinShares’ existing strategic investment in 3iQ and further aligns the objectives of the two firms.
“3iQ is a leading innovator of cryptocurrency investments, launching the first-ever publicly traded bitcoin vehicle in Canada. Our deep expertise and understanding of the asset has been applied to the launch of the 3iQ CoinShares Bitcoin ETF,” said Fred Pye, CEO and Chairman of 3iQ. “Our collaboration with CoinShares, a publicly listed digital asset manager, allows us to share the global brand that CoinShares has built over the past 5 years and continue to deliver innovative investment vehicles.”
CoinShares CEO Jean-Marie Mognetti added “We have followed 3iQ’s incredible growth closely since they received a landmark decision in Canada to allow listed bitcoin vehicles. At CoinShares, we have built our products with trust and transparency in mind, and we are excited to collaborate with 3iQ, who share our vision and mission of making digital assets more accessible to investors of all types.”
3iQ anticipates launching the 3iQ CoinShares Bitcoin ETF (the “ETF”) in early April. The investment objectives of the ETF are to (a) provide its unitholders with exposure to digital currency bitcoin and the daily price movements of the U.S. dollar price of bitcoin and (b) the opportunity for long-term capital appreciation. Units of the ETF will, subject to the ETF satisfying the Toronto Stock Exchange’s (the “TSX”) original listing requirements, trade on the TSX in Canadian dollars under the symbol “BTCQ” and in U.S. dollars under the symbol “BTCQ.U”.
3iQ is the investment and portfolio manager of the ETF.
“As the largest digital asset management firm in Canada, we believe our knowledge and expertise will enable this ETF to compete effectively”, said Robert Kidd, President of 3iQ. “Going forward, we plan to accelerate our product roadmap and reach new markets and hope to benefit from CoinShares’ experience and expertise as we develop new financial products.”
About 3iQ Corp.
Founded in 2012, 3iQ is Canada’s largest digital asset investment fund manager with more than C$2 billion in assets under management. 3iQ was the first Canadian investment fund manager to offer a public bitcoin investment fund, The Bitcoin Fund (TSX: QBTC, QBTC.U). 3iQ offers investors convenient and familiar investment products to gain exposure to digital assets. For more information about 3iQ and its digital asset investment funds, visit www.3iQ.ca or follow us on Twitter @3iQ_corp.
About CoinShares Group
CoinShares is Europe’s largest digital asset investment firm, managing over US$4 billion of assets on behalf of a global client base. Our mission is to expand access to the digital asset ecosystem by pioneering new financial products and services that provide investors with trust and transparency when accessing this new asset class. For more information on CoinShares, visit: https://coinshares.com
Jay Morakis at M Group
Fred Pye – Chairman and CEO
P: +1 (416) 639-2130
You will usually pay brokerage fees to your dealer if you purchase or sell units of the ETF on a stock exchange or other alternative Canadian trading system (an “exchange”). If units of the ETF are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the ETF in its public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and anticipated events or results and may include statements regarding the future financial performance of the funds managed by 3iQ. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED THEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
This announcement should not be distributed, forwarded, transmitted or otherwise disseminated in or into the United States. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for securities in the United States or any other jurisdiction. The ETF’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or under the applicable securities laws of any state or other jurisdiction of the United States, and may not be offered, sold, resold, transferred or delivered, directly or indirectly within, into or in the United States, absent registration or an applicable exemption from, or except in a transaction not subject to, the registration requirements of the Securities Act and in compliance with the securities laws of any relevant state or other jurisdiction of the United States. Neither this announcement, nor the fact that it has been disseminated, shall form the basis of, or be relied upon in connection with, any future information that we distribute.