3iQ Corp. to launch Global Cryptoasset FundBy The IJ Staff | January 26 2018 11:30AM
3iQ Corp. today announced that it plans to launch a Global Cryptoasset Fund. The fund, structured as a trust, will invest directly in bitcoin, ether and litecoin, three of the leading cryptoassets.
The company says it has agreed to terms and conditions with the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA), enabling it to invest in multiple crypto assets. It aims to launch and complete its first close within the next few weeks.
Global Cryptoasset Fund units will be available to accredited investors, advisors and dealers via Fundserv, and to pension funds, institutions and family offices via private placement, says the company.
Exempt market product
"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. 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," stated 3iQ Chief Executive Officer Frederick Pye, in an announcement.