Victor Ugochukwu · Dec 14, 2020 . 5min read
3iq files IPO receives preliminary prospectus for Ether Fund in Canada
The Canadian investment fund manager, 3iq filed an IPO. It has recieved a green signal from the Canadian Securities Regulatory Authorities on the same
By Shilika · Jul 29, 2020 . 4min read
According to a blogpost, 3iq Corp, a Canadian Investment Fund Manager has announced The Ether Fund. 3iq Corp has filed an IPO with the securities regulatory authorities in Canada, across its territories and provinces except for Quebec.
3iq currently focuses on providing exposure to Canadian investors in digital financial assets and disruptive technologies in the blockchain space. In April 2020 it launched the Bitcoin fund in the Toronto Stock Exchange. Therefore, it is looking forward to the Ether fund in the Canadian markets. On 24th July 2020, it received a preliminary prospectus from the Canadian authorities concerning the Initial Public Offering.
The Ether fund is a closed-end investment fund managed by 3iq. The Ether fund aims at issuing Class A units and Class F units at US$10.75 and US$10.83 respectively. Moreover, the fund intends to raise a minimum size of US$10.75 million, whereas the maximum size of US$107.50 million in it’s offering. Thus, 3iq Corp. is instrumental in managing the fund and its portfolio.
The objectives of the Ether fund is to expose Canadian investors to Ether and the daily price movements of the US dollar with respect to Ether. Moreover, it also aims at providing capital appreciation opportunities to investors.
The agent for the Ether fund is Canaccord Genuity Corp. The agent has the authority to purchase an additional 15% of Class A units on the closing day of the offering on the same terms and conditions, executed partly or wholly one month thereafter. Currently, 3iq is managing the Bitcoin fund(UBTC) and 3iq Global cryptocurrency Fund. The funds hold bitcoin, Ether and Litecoin.
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