Both BT3Q and ET3Q spot crypto-based ETFs will be listed on the TSX.
On June 6, two new crypto-related exchange-traded funds (ETFs) were fired up on a global exchange dubbed the Cboe Australia. Both funds are expected to have a minimal fee structure, with a total expense ratio (TAR) of 1.20%.
Cboe Australia (CXA) is innovative securities and derivatives exchange launched in October 2011. It’s dedicated to reforming, strengthening, and developing Australian investment markets. As of now, the exchange has managed to achieve more than 20% market share and trade roughly $6B a day in cash equities.
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According to the official statement, 3iQ Digital Asset Management (3iQ) has initiated the 3iQ CoinShares Bitcoin Feeder ETF (the BTC ETF), ticked as BT3Q, and the 3iQ CoinShares Ether Feeder ETF (the ETH ETF), ticked as ET3Q.
Both funds were listed on the Toronto Stock Exchange (TSX) and seek to provide traders with more accessibility to Bitcoin (BTC) and Ether (ETH), as well as give exposure to the daily price fluctuations of the fundamental crypto asset in US dollars.
The Chairman and CEO of 3iQ Fred Pye stated that the Canada-based digital asset investment firm is pleased to introduce two new spot crypto ETFs. He added:
“Our ETFs gives retail and institutional investors regulated access to the digital asset market, providing a safer alternative to a direct investment in cryptocurrencies. 3iQ is one of the oldest and largest digital asset managers in the world and we now manage over AUS$1.8 billion in crypto assets, our experience and knowledge in the space provides investors with unparalleled crypto investment solutions.”
The Trust Company will reportedly act as a Responsible Entity for both crypto-based exchange-traded funds.
Back in March, the digital currency investing and crypto asset management business Grayscale announced that it would introduce a new ETF related to crypto dubbed Grayscale Future of Finance UCITS ETF.
