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SAINT HELIER, Jersey, April 1, 2021 | CoinShares International Limited, (Nasdaq First North Growth Market: CS) ("CoinShares" or the "Group" or the “Company”) today announced a strategic collaboration with 3iQ Corp (“3iQ”), commencing with the launch of the 3iQ CoinShares Bitcoin ETF (the “ETF”). As part of this collaboration, CoinShares also disclosed a strategic investment in 3iQ, which further aligns the objectives of the two firms.(1)
Founded in 2012, 3iQ is Canada’s largest digital asset investment fund manager with more than C$2.1 billion in assets under management. 3iQ was the first Canadian investment fund manager to offer a public bitcoin investment fund.
The ETF will be offered in all of the provinces and territories of Canada. The Toronto Stock Exchange (“TSX”), the largest stock exchange in Canada, has conditionally approved the listing of the Units under the symbols “BTCQ.U” (in U.S. dollars) and “BTCQ” (in Canadian dollars), subject to the fulfillment of TSX requirements. 3iQ will act as the investment and portfolio manager of the ETF which is expected to begin trading in early April, 2021.
CoinShares and 3iQ share similar objectives - to make digital assets more inclusive by facilitating access to investors through a variety of trusted, regulatory compliant investment vehicles that are available in global markets. CoinShares' participation in the ETF will allow 3iQ to leverage the global brand that CoinShares has built over the past 8 years, allowing them to extend their outreach. The 3iQ CoinShares Bitcoin ETF will increase CoinShares’ brand recognition in the North American asset management market, which is a strategic growth market for CoinShares in 2021.
Jean Marie Mognetti, CEO of CoinShares, commented:
“While global banks are beginning to explore making bitcoin investment products available to their wealthiest clients, at CoinShares, our mission is to provide investors with a variety of options to facilitate investment in digital assets by lowering barriers to entry. In 2015, CoinShares was the first firm in the world to offer regulated, publicly listed exchange traded products that allowed investors to obtain exposure to bitcoin in their portfolios. With inflows into digital asset investment funds exceeding $6B in the first quarter of 2021, and global AUM reaching a new record of $55B(2), our team at CoinShares believes digital assets will continue to grow as more investors look for cost-efficient vehicles to access this exciting new asset class. We are actively exploring new ways we can partner with exceptional firms like 3iQ to pursue our mission of making digital assets more accessible to both retail and institutional investors.”
Footnotes
1. This investment was disclosed in the CoinShares Prospectus and Q4 and FY2020 Earnings Report, which can be accessed at https://coinshares.com/investor-relations
2. Sourced from the CoinShares Weekly Digital Asset Fund Flows Report as of 29 March 2021. This report is updated weekly on Mondays and can be accessed at https://coinshares.com/research/digital-asset-fund-flows
About CoinShares
CoinShares is Europe's largest digital asset investment firm, managing over USD 4 billion of assets on behalf of its client base. The Group is focused on expanding investor access to the digital asset ecosystem by pioneering new financial products and services that seek to provide trust and transparency when accessing this new asset class.
For more information on CoinShares, please visit: https://coinshares.com
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations – Jay Morakis | +1 646 859 5951 | enquiries@coinshares.com
Certified Advisor – Mangold Fondkommission AB | +46 (0)8 503 015 50 | ca@mangold.se
This information is information that CoinShares International Limited is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014). The information in this press release has been published through the agency of the contact persons set out above, at 5:45pm BST on 01 April 2021.
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This announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in the Company. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.
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Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in the Company have been subject to a product approval process, which has determined that the shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, Distributors should note that: the price of the shares in the Company may decline and investors could lose all or part of their investment; the shares in the Company offer no guaranteed income and no capital protection; and an investment in the shares in the Company is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Offering.
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