Partnership to provide a growing number of
investors with simple, safe and secure way to access the full range
of 3iQ's cryptocurrency offerings
TORONTO, Sept. 21,
2022 /PRNewswire/ -- 3iQ Digital Asset Management
(3iQ) together with Coinbase and Tetra Trust Company ("Tetra Trust"
or "Tetra") are pleased to announce a new partnership aimed at
expanding the exchange-traded product (ETP) ecosystem for digital
assets in Canada and generating
new interest from the investment community.
With this collaboration, Coinbase and Tetra will serve as
custodians for 3iQ's ETPs, including the 3iQ CoinShares Bitcoin ETF
(TSX: BTCQ) and the Bitcoin Fund (TSX: QBTC), which became
North America's first bitcoin ETP
when it launched in April 2020. They
will also serve as custodians for 3iQ CoinShares Ether ETF (TSX:
ETHQ) and the Ether Fund (TSX: QETH). 3iQ has also selected
Coinbase Prime to provide crypto trading, prime brokerage and
reporting capabilities for its crypto ETP products. 3iQ will be
transitioning out of its current custodianship arrangements, and
this new partnership is expected to come into full effect over the
next few months.
"3iQ's goal is to continue innovating within the digital assets
ecosystem in North America and
across the globe," said Fred Pye,
Chairman and CEO of 3iQ. "By joining forces, we believe our
collective industry leadership will further ensure that investors
have their digital assets stored and settled within a safe and
secure environment. We look forward to introducing new strategies
and supporting cutting-edge products while working to strengthen
the overall crypto landscape."
"Coinbase is proud to be partnering with 3iQ as their exclusive
prime broker and as a custodian partner along with Tetra," said
Steve Capozza, Director of Coinbase
Institutional Sales. "With powerful financing capabilities and
flexible operational workflows, our solution helps ETP issuers
bridge the gap between the world of T+2 settled traditional
securities and instantly-settled crypto assets."
"Tetra is excited to be working with 3iQ and Coinbase to create
a superior custody model for the Canadian crypto ETP segment," said
Didier Lavallée, CEO of Tetra Trust. "Our inclusion in this
partnership is a validation for our made-in-Canada regulated custody solution for digital
assets, and we believe our unique value proposition will help
support further development of the Canadian ecosystem."
From the perspective of institutional investors, packaging
digital assets in an exchange-traded vehicle delivers leading fund
technology with established credibility and operational efficiency.
The structural attributes of ETPs provide investors with the
confidence to invest with low costs, liquidity and transparency.
Such products can present an attractive opportunity for investors,
and particularly for those who may be evaluating and entering the
crypto space for the first time. Having trusted partners with their
own specific expertise working together can lead to scalability and
a runway to further adoption. To learn more about 3iQ's digital
assets ETP offerings, visit www.3iQ.ca.
About 3iQ Corp.
Founded in 2012, 3iQ Corp. (3iQ) is Canada's leading digital asset investment fund
manager with more than C$700 million
in assets under management. 3iQ was the first Canadian investment
fund manager to offer a public bitcoin investment fund, The Bitcoin
Fund (TSX: QBTC) (TSX: QBTC.U), and a public ether investment fund,
The Ether Fund (TSX: QETH.UN)(TSX: QETH.U). More recently, 3iQ
launched the 3iQ CoinShares Bitcoin ETF (TSX: BTCQ) (TSX: BTCQ.U)
and the 3iQ CoinShares Ether ETF (TSX: ETHQ) (TSX: ETHQ.U). 3iQ
offers investors convenient and familiar investment products to
gain exposure to digital assets.
Coinbase is building the cryptoeconomy – a more fair,
accessible, efficient, and transparent financial system enabled by
crypto. The company started in 2012 with the radical idea that
anyone, anywhere, should be able to easily and securely send and
receive Bitcoin. Today, Coinbase offers a trusted and easy-to-use
platform for accessing the broader cryptoeconomy. Built for
institutions, Coinbase Prime integrates advanced agency trading,
custody, prime financing, staking, staking infrastructure, market
data, and reporting that supports the entire transaction lifecycle.
We combine these capabilities with leading security, insurance, and
compliance practices to provide institutional clients of Coinbase
with a full-service platform to access crypto markets at scale.
About Tetra Trust
Founded in 2019, Tetra is Canada's first and only trust company licensed
to custody digital assets. Tetra received its Certificate of
Registration from the Government of Alberta on July 5,
2021 and meets the definition of a qualified custodian under
National Instrument 31-103 and National Instrument 81-102. The
Company is backed by Coinsquare, Canada's premier cryptocurrency exchange
digital asset trading platform; Odyssey Trust Company, a leading
North American transfer agent and trust company; Coinbase Ventures,
an investment arm of Coinbase (NASDAQ: COIN) which is one of the
world's largest publicly traded cryptocurrency exchanges; the
Canadian Securities Exchange; Mogo Financial Inc. (TSX: MOGO);
Urbana Corporation (TSX: URB); and others. Led by a first-class
team of security and business experts and a Board of Directors with
extensive trust company experience, Tetra delivers the most
advanced digital asset storage technology in the industry. For
further information visit www.tetratrust.com.
Not for distribution to Australia newswire services or for
dissemination in Australia.
This announcement and the information contained herein is
restricted and is not for release, publication or distribution, in
whole or in part, directly or indirectly in, or into or from the
Australia or any other
jurisdiction in which the same would be unlawful.
You will usually pay brokerage fees to your dealer if you
purchase or sell units of the ETF on a stock exchange or other
alternative Canadian trading system (an "exchange"). If units of
the ETF are purchased or sold on an exchange, investors may pay
more than the current net asset value when buying units of the ETF
and may receive less than the current net asset value when selling
There are ongoing fees and expenses associated with owning
units of an investment fund. An investment fund must prepare
disclosure documents that contain key information about the fund.
You can find more detailed information about the ETF in its public
filings available at www.sedar.com. Investment funds are not
guaranteed, their values change frequently and past performance may
not be repeated.
Certain statements contained in this document constitute
forward-looking information within the meaning of Canadian
securities laws. Forward-looking information may relate to matters
disclosed in this document and anticipated events or results and
may include statements regarding the future financial performance
of the funds managed by 3iQ. In some cases, forward-looking
information can be identified by terms such as "may", "will",
"should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue" or other similar
expressions concerning matters that are not historical facts.
Actual results may vary from such forward-looking information.
Investors should not place undue reliance on forward-looking
statements. These forward-looking statements are made as of the
date hereof and we assume no obligation to update or revise them to
reflect new events or circumstances.
Ryan Graham, JConnelly