3IQ latest crypto-ETF fund manager joins the Australian market
3IQ latest crypto-ETF fund manager joins the Australian market
- Australia has received the latest Bitcoin and Ether ETF with the listing of 3IQ, which aims to track down its Canada-based funds
- 3IQ is part of a growing list of fund managers that offer similar products in the middle of a market deposition and falling commercial volumes
3IQ is the latest stock market-traded fund (ETF) manager who has entered the Australian market with two new lists at the CBOE Australia Exchange.
The listed 3IQ CoinShares Bitcoin Feeder ETF (BT3Q) and the 3IQ Coinshares Ether Feeder ETF (ET3Q), both of them are located in Australia, offer investors access to the underlying ETFs of 3IQ, which are based in Canada and are noted on the Toronto Stock Exchange.
The underlying ETFs invest in long -term stocks of Bitcoin and Ether of Bords and OTCs, which are checked by 3IQ, the manager said in a statement on Tuesday. The manager, who holds around $ 1.2 billion of crypto assets on behalf of customers, is not the first at the table with his offers.
In May, the company 21shares based in Switzerland and the company based in London were ETF Securities the first in the country to launch their Bitcoin and Ether ETFs together. These notations were initially postponed in April before they received the green light two weeks later.
The Cosmos Asset Manager, based in Australia, later joined the fight and added his own physically processed Bitcoin and Ether ETFs to the list towards the end of May. The variety for investors came at a time when the markets were somewhat subdued, as the trade volume of the ETFs of 21shares shows.
Nevertheless, the step marks a turning point in Australia's crypto landscape and could prove to be an indispensable instrument for larger players who want to familiarize themselves with the aspiring asset class.
3IQ said that ETFs make the establishment of digital wallets superfluous for institutional and private investors and at the same time offer a safer solution via a sanctioned custodian. Nevertheless, they are not without their inherent pitfalls, since typical ETFs tend to reproduce the underlying price of cryptos such as Bitcoin, and are susceptible to extreme phases of market volatility.
"Investment in cryptocurrency -based products are risks," said Fred Pye, CEO of 3IQ, in the explanation. "These products are considered to be very risky and investors should carefully assess their risk profile and obtain their own financial council before investing."
Both funds that are available for investments either via CBOE, an stock exchange broker or an online broking account should have a low fee structure with a total management cost rate of 1.20 %.
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The contribution "3iq Latest Crypto Etf Fund Manager to Join Australian Market" is not a financial advice.