Ethereum-based fund has completed its primary IPO [Initial Public Offering] onto the Toronto Stock Exchange [TSX].
In line with a recent official announcement, the Canadian investment fund manager 3iQ announced the sale of over 7.2 Mln Class A and F units summing gross proceeds of over $76.5 Mln. The Ethereim Fund Class A Units, aimed towards all investor types, have opened for trading under the symbol QETH.U. Investors within the United States are specifically excluded, however.
3iQ successfully launched an identical bitcoin fund IPO earlier this year. The ether product’s exchange listing marks a “world first,” consistent with an official tweet by the fund manager on Thursday.
The IPO fund is aimed to offer investors the power to get shares within the fund and receive exposure to changes in ether’s price over time, offering investors “the opportunity for long-term capital appreciation,” according to the statement. Ether is among the native cryptocurrency of the Ethereum [ETH, -2.04%] blockchain network.
The United States-based cryptocurrency exchange Gemini added that it’ll offer exclusive custody of the fund’s assets. The exchange’s co-founder, Tyler Winklevoss, declared that it had been “huge news for Ethereans,” within his recent tweet.