March 5 – 11, 2018 | Crypto Index, JP Morgan & More Crypto News

North iQ Weekly Newsletter is curated to provide insights on digital asset industry developments, market announcements, and performance analysis.

Coinbase Launches DOW-like Cryptocurrency Index 

March 6, 2018 – Coinbase, one of the world’s largest cryptocurrency exchanges, is releasing a weighted index fund for cryptocurrencies. The Coinbase Index Fund will track bitcoin, bitcoin cash, litecoin, and ethereum. The cryptocurrencies will be weighted based on their market capitalization, making the index similar to the Dow Jones Industrial Average.

The Coinbase Index Fund will be available for purchase by US accredited investors only. In Canada, the OSC and CSA have already approved Canada’s first multi-crypto fund, 3iQ’s Global Cryptoasset Fund, which gives Canadian accredited investors exposure to bitcoin, ether, and litecoin.

Read the full article here.

JP Morgan: Bitcoin ETFs are the “Holy Grail for Owners and Investors”

March 11, 2018 – Last month, a report called “Decrypting Cryptocurrencies: Technology, Applications and Challenges,” JP Morgan had been informing its clients of the benefits Bitcoin ETFs could bring. The bank underlined the following:

Easier access: “Investors need wallets to trade the physical bitcoins today, making it hard to access. ETFs are frequently traded and highly accessible via investors’ brokerage accounts.”

Liquid market: “ETFs are actively traded and highly transparent.”

High integrity: “ETFs are traded through brokerage accounts that carry with them insurance via SIPC. Bitcoin exchanges have no such insurance and expose holders to potential fraud and theft.”

The report demonstrates the banks evolving understanding of the cryptocurrency market. JP Morgan said the introduction of Bitcoin ETFs could have as much financial market impact as the first gold-linked ETF. Despite JP Morgan’s friendly stance towards Bitcoin ETFs, the idea is still receiving pushback from US regulators, as many as 10 Bitcoin linked ETFs are still awaiting approval.

Read the full article here.

The World’s Wealthiest are Loading Cryptocurrencies

March 7, 2018 – According to an annual survey of wealth advisors and private bankers, high-net worth individuals significantly increased their investments in cryptocurrencies last year. The survey was conducted by Knight Frank in their 2018 Wealth Report, which received responses from over 500 wealth advisors and private bankers, who manage a total of $3 trillion in assets from approximately 50,000 clients around the world.

The report gives a geographical breakdown of which regions had the largest increases in cryptocurrency exposure among their high-net worth individuals. North America had an increase of 20%, while some regions like Latin America had a staggering 33% increase in exposure.

Read the full article here.

Bitfarms to Invest $193 Million in Quebec Crypto Mining

March 8, 2018 – Bitfarms plans to quadruple its computing power and workforce in Quebec, with new computing facilities located in Sherbrooke. The $193 million USD investment will allow the company to increase its Quebec workforce from 80 to 330, the company states.

The Sherbrooke facilities will complement Bitfarms current operations in five other Canadian towns. The company has entered into six hydropower purchasing agreements with Hydro-Sherbrooke, totaling 98 megawatts.

Read the full article here.

Infographic: 25 of the Most Notable Cryptocurrencies

March 7, 2018 – Bitcoin’s surge throughout 2017 brought forth a ton of media attention, taking the cryptocurrency to the mainstream market. Simultaneously, the entire cryptocurrency sector came along for a ride too. There are now over 20 cryptocurrencies that have at least $1 billion USD in market cap.

Early last year, bitcoin was about 80% of the total market capitalization of the cryptocurrency sector. With other cryptocurrencies such as ethereum and litecoin gaining traction, bitcoin’s total share of the market is now about 42%. An infographic by Visual Capitalist summarizes the top 25 most notable cryptocurrencies, using 30-day trade volume and market capitalization as a guide for comparison.

View the infographic here.

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This Weekly Cryptoasset Newsletter is for informational purposes only and does not constitute, either explicitly or implicitly, any provision of services or products by 3iQ Corp (“3iQ”). Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation.3iQ Corp. makes no representation or warranty to any investor regarding the legality of any investment, the income or tax consequences, or the suitability of an investment for such investor. All content is original and has been researched and produced by 3iQ unless otherwise stated therein. No part of the content may be reproduced in any form, or referred to in any other publication, without the express written permission of 3iQ. All statements made regarding companies, securities or other financial information contained in the content or articles relating to 3iQ are strictly beliefs and points of view held by 3iQ and are not endorsements of any company or security or recommendations to buy or sell any security. No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. By visiting and/or otherwise using the 3iQ website in any way, you indicate that you understand and accept the terms of use as set forth on the website and agree to be bound by them. If you do not agree to the terms of use of the website, please do no access the website or any pages thereof. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with 3iQ with respect to any linked site or its sponsor, unless expressly stated by 3iQ. Any such information, products or sites have not necessarily been reviewed by 3iQ and are provided or maintained by third parties over whom 3iQ exercises no control. 3iQ expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. The information contained herein, while obtained from sources believed to be reliable, is not guaranteed as to its accuracy or completeness and confers no right on purchasers. Past performance of cryptoassets is not indicative of future performance and should not be used to forecast any return that an investor may realize.

Fred Pye

Frederick T. Pye


Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.