Next week, Canadian digital asset investment manager 3iQ will launch an IPO of Ethereum’s exchange trust, The Ether Fund, on the Toronto Stock Exchange (TSX) under the ticker QETH.U.
The maximum offer for the launch is $ 100 million, and the offer deadline will be no later than December 10, 2020. 3iQ counts more than $ 400 million of CAD under management, and keeps a focus on Bitcoin, Litecoin, and Ethereum.
In a press release on Thursday, 3iQ noted that this list comes with a patriotic backstory.
“The Ethereum concept was developed in Canada in 2013 and subsequently launched by a group of technologists from around the world,” said the company.
Ethereum’s co-founder and head figure, Vitalik Buterin, is Canadian-Russian, whose family moved to Toronto when he was six years old.
Traders south of the Canadian border have shown a remarkable appetite for publicly available Ethereum investment vehicles. Despite a price premium that was on points surging 500% relative to the value of ETHE’s net asset, Grayscale Ethereum trust, the digital assets are reporting that more and more investors have been piling up.
These funds and trusts are the preferred investment method for many traders who are unable or unwilling to provide their own cryptocurrency custody and security options.
In addition, traders have enjoyed a plethora of new fund offers around the world in recent months. In November alone, Gold giant VanEck launched a Bitcoin exchange trading note product in Germany, the VanEck Vectors Bitcoin ETN, and also introduced 3iQ The Bitcoin Fund to Canada.