3iQ, the Canadian digital asset investment manager, has planned to launch The Ether Fund, an IPO of an Ethereum exchange-traded trust, on the Toronto Stock Exchange (TSX) under the ticker QETH.U.
It has been reported that the maximum offering for the launch is $100 million, and the closing date of the offering will be no later than December 10, 2020.
However, 3iQ counts more than $400 million CAD under management and maintains a focus on Bitcoin, Litecoin, and Ethereum.
3iQ noted that this listing comes with a patriotic back-story.
The company said:
“The concept of Ethereum was developed in Canada in 2013 and subsequently launched by a group of technologists from all over the world.”
Likewise, traders south of Canada’s borders have demonstrated a remarkable appetite for publicly available Ethereum investment vehicles.
Despite a price premium which at points creeped upwards of 500% relative to net asset value for ETHE, Grayscale’s Ethereum trust, the digital assets behemoth reports that more and more investors have been piling in.
The report said that these funds and trusts are the preferred investment method for many traders who are unable or unwilling to provide their own cryptocurrency custody and security options.
Thus, traders have enjoyed a proliferation of new fund offerings across the globe in recent months.