Canadian 3iQ Corp has announced that local regulators have approved the launch of The Ether Fund, an investment fund that will provide traditional investors with an easy way to invest in Ethereum.
The initial offering of the fund’s shares will end on December 10. Thus, investors have less than a week to invest. During this period, the volume of shares of The Ether Fund will be determined, while the issue of additional shares is not provided.
3iQ already has a similar fund for bitcoin, approved by Canadian regulators in fall 2019 and launched in April 2020. As with The Bitcoin Fund, The Ether Fund will be listed on the Toronto Stock Exchange under the symbol QETH.U.
Note that if Bitcoin has already made several attempts to set a new record in recent weeks, the situation with ETH is much worse – now the second cryptocurrency is trading at $ 580, whereas in January 2018 the ETH rate reached $ 1,400.
To launch The Ether Fund, the investment volume must exceed $ 20 million by December 10th. The maximum investment volume is limited to $ 107.5 million. Recall that in early October, the Gibraltar Stock Exchange added The Bitcoin Fund from 3iQ to the listing.