3iQ announces global cryptoasset fund

The fund will be available to institutions and qualified investors

3iQ announces global cryptoasset fund
3iQ, a Canadian investment fund manager focused on investments in disruptive technologies and the cryptoasset space, has agreed to terms and conditions with the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA) to act as the first Canadian portfolio manager and investment fund manager allowed to invest in multiple cryptoassets.

“We have worked diligently to provide a pure, low-cost, secure method for both accredited and institutional investors to assume a core position in this new and expanding asset class,” said 3iQ CEO Frederick Pye. “Although an exempt market product, we at 3iQ are excited to offer this product with our partners and to bring a diversified basket of leading digital assets to institutions and qualified investors."

In connection with that, units of 3iQ’s Global Cryptoasset Fund will be open to accredited investors, advisors, and dealers via the Fundserv platform. Pension funds, institutions, and family offices may also access the fund through private placement. The fund, structured as a trust, will invest directly in bitcoin, ether, and litecoin.

The fund also benefits from numerous relationships that are unique to it and 3iQ within Canada. Those include lead consultancy from New York-based ARK-Invest, institutional-level security with a leading cryptoasset custodian, and expert trading with established trading firms that can access liquidity across the entire cryptoasset space.

3iQ aims to launch and complete its first close over the next few weeks.

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