Canadian investment fund manager 3iq Corp. reported on Friday that its Ether Fund has lodged an IPO with securities authorities in all provinces and territories of Canada, except Quebec. In fact, the draft IPO prospectus was green-lighted by the regulator.
A closed-end investment fund operated by 3iq, the Ether Fund plans to collect a minimum of $10.75 million and a maximum of $107.5 million by selling Class A units of $10.75 and Class F units of $10.53. The Ether Fund is currently planning to list on the Toronto Stock Exchange (TSX) as does the Bitcoin Fund.
The firm clarified that the investment goals of the Ether Fund were to provide participants with "an introduction to the digital currency ether and the regular market fluctuations of the U.S. dollar price ether" and "an incentive for long-term capital appreciation."
Founded in 2012, 3iq is now running the Bitcoin Fund and the 3iq Global Cryptoasset Trust, a private trust open to approved investors in Canada. It's got BTC, ETH, and LTC.
The business introduced the Bitcoin Fund on April 9; it is officially listed on the Toronto Stock Exchange under the QBTC.U ticker symbol. Its benchmark index is the MVIBTC index. The Cidel Trust Company and the Gemini Trust Company supply the company with custody facilities. The Bitcoin Fund made a $48 million bid in May and a $10 million deal in June.
Source: Bitcoin.com
