Bitcoin ETF From 3iQ and CoinShares Tops C$1B AUM

The 3iQ CoinShares Bitcoin ETF has reached over C$1 billion (US$823 million) in assets under management (AUM) after only three weeks of trading on the Toronto Stock Exchange.

In an announcement Friday, 3iQ said the bitcoin exchange-traded fund launched in partnership with CoinShares has seen enormous demand from investors.
The bitcoin ETF began trading in Canadian dollars under the ticker BTCQ and in U.S. dollars under the symbol BTCQ.U on the TSX on April 19.
On April 23, Canadian regulators approved the “3iQ CoinShares Ether ETF” which became the fourth ether ETF to trade on the TSX.
Besides the ether ETFs, Canada has approved four bitcoin ETFs targeted at crypto-hungry investors. Meanwhile, the U.S. has yet to approve an ETF for any cryptocurrency despite years of applications.
"Reaching $1 billion in only three weeks speaks to the enormous market demand for bitcoin," said Fred Pye, CEO of 3iQ.
The management fee for the ETF is 1.00% and 3iQ said it is absorbing any other expenses in excess of 0.25%.

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