3iQ Corp, Canada’s largest asset manager, has said its 3iQ CoinShares Bitcoin exchange-traded fund (ETF) (TSX:BTCQ) has begun trading on the Toronto Stock Exchange (TSX).
The company said the ETF will look to provide investors with exposure to Bitcoin as well as “the opportunity for long-term capital appreciation”.
“Today is yet another milestone for the 3iQ team, bitcoin enthusiasts, and investors across Canada. Backed by deep industry expertise, we are thrilled to be adding the 3iQ CoinShares Bitcoin ETF to our offerings and especially to partner with CoinShares”, 3iQ chairman and chief executive Fred Pye said in a statement.
The ETF is the fourth Bitcoin ETF to list in Canada and another sign of the country’s increasing willingness to offer crypto trading products to investors.
These developments also follow the approval of Ether ETFs by Canadian regulators last week, placing the North American nation streaks ahead of its southern neighbour, with US regulators having yet to approve any form of Bitcoin ETF.
Bitcoin was down 0.6% at US$55,293 in late-afternoon trading in London on Monday.