Recap of an eventful 2021 at 3iQ Digital Asset Management
As the year comes to an end, we look back at key milestones of 2021 that have set us up for a promising 2022.
1. January 2021: 3iQ’s The Bitcoin Fund hits C$1 Billion in Assets Under Management
2. January 2021: At-the-Market (ATM) Offerings
3iQ.ca | January 25, 2021
‘An ATM offering is a daily offering of units into a trading market at publicly available bid prices on the Toronto Stock Exchange or marketplace. ATM offerings attempt to optimize the offer price by permitting units to be sold in the market over an exchange at prevailing market prices as opposed to negotiated prices with institutional investors. The benefits to unitholders of the ATM program include the accretion of bitcoin per unit, lower market impact, lower cost, and increased transparency of offerings.’
The bitcoin meme “numbers go up” is fun and all, but when you layer on the parabolic rise of investor interest….something very special is happening before our very eyes.
4. April 2021: Two of the World’s Largest Digital Asset Managers Announce Strategic Collaboration: 3iQ to Launch The 3iQ CoinShares Bitcoin ETF
3iQ.ca | April 1, 2021
“3iQ is a leading innovator of cryptocurrency investments, launching the first-ever publicly traded bitcoin vehicle in Canada. Our deep expertise and understanding of the asset has been applied to the launch of the 3iQ CoinShares Bitcoin ETF,” said Fred Pye, CEO and Chairman of 3iQ. “Our collaboration with CoinShares, a publicly listed digital asset manager, allows us to share the global brand that CoinShares has built over the past 5 years and continue to deliver innovative investment vehicles.”
CoinShares CEO Jean-Marie Mognetti added “We have followed 3iQ’s incredible growth closely since they received a landmark decision in Canada to allow listed bitcoin vehicles. At CoinShares, we have built our products with trust and transparency in mind, and we are excited to collaborate with 3iQ, who share our vision and mission of making digital assets more accessible to investors of all types.”
5. April 2021: 3iQ CoinShares Bitcoin ETF begins trading on TSX
3iQ YouTube | April 22, 2021
“Today is yet another milestone for the 3iQ team, bitcoin enthusiasts, and investors across Canada,” said Fred Pye, Chairman & CEO of 3iQ. “Backed by deep industry expertise, we are thrilled to be adding the 3iQ CoinShares Bitcoin ETF to our offerings and especially to partner with CoinShares.”
The Bitcoin ETF’s investment objectives are to seek to provide holders of units of the Bitcoin ETF with: (a) exposure to digital currency bitcoin and the daily price movements of the U.S. dollar price of bitcoin, and (b) the opportunity for long-term capital appreciation.
Read the full press release (3iQ.ca | April 19, 2021).
6. April 2021: 3iQ CoinShares Ether ETF begins trading on TSX
3iQ.ca | April 23, 2021
The Ether ETF’s investment objectives are to seek to provide holders of units of the Ether ETF with (a) exposure to digital currency Ether and the daily price movements of the U.S. dollar price of Ether, and (b) the opportunity for long-term capital appreciation.
“The introduction of this new ETF format provides another way to efficiently invest in Ether. We believe 3iQ’s experience and knowledge in this area will help ETF investors achieve their goals while investing in this new technology. This ETF further solidifies 3iQ’s partnership with CoinShares” – Fred Pye, Chairman, and CEO of 3iQ.
7. May 2021: 3iQ CoinShares Bitcoin ETF is fastest bitcoin ETF to surpass C$1 billion in Assets Under Management
3iQ.ca | May 7, 2021
3iQ Corp. (“3iQ”), the largest digital asset manager in Canada with more than C$3.5 billion in Assets Under Management (“AUM”), is pleased to announce the 3iQ CoinShares Bitcoin ETF (the “ETF”) has surpassed C$1 billion in AUM.
“Reaching $1 billion in only three weeks speaks to the enormous market demand for bitcoin” said Fred Pye, Chairman & CEO of 3iQ. “The pace of its growth is yet another milestone in 3iQ’s goal to provide investors with more ways to gain exposure to the largest digital asset in the world.”
8. May 2021: 3iQ Corp. surpasses C$4 Billion in Assets Under Management
Source: Bloomberg as at November 30, 2021.
9. June 2021: 3iQ’s The Bitcoin Fund begins trading on Nasdaq Dubai
Nasdaqdubai.com | June 23, 2021
“Our expansion into the Middle East is now official as The Bitcoin Fund has been listed on Nasdaq Dubai as of today. When we launched the Fund in Toronto last year, an expansion into the Middle East was always in the plans and we are extremely proud to have achieved that milestone here today in Dubai. We believe that The Bitcoin Fund is poised to offer tremendous value to regional investors looking to diversify their portfolio with this asset class through a regulated listing,”said Frederick Pye, Chairman and CEO, 3iQ Corp.
The dual-listing of the Fund enables investors to transfer their units from the Toronto Stock Exchange to Nasdaq Dubai (and vice versa) as well as to acquire units directly on Nasdaq Dubai. 3iQ has appointed Dalma Capital and Canaccord Genuity as the joint-lead arrangers for the regional offering of the Fund (subject to regulatory approval). BHM Capital has also been appointed as the Fund’s Liquidity Provider.
10. October 2021: 3iQ Ends the Year Looking Forward to More Great Milestones Ahead
“3iQ has had a great year full of progress and expansion. We started the year off with a bang when we launched the 3iQ CoinShares Bitcoin ETF and the 3iQ CoinShares Ether ETF on the TSX. We also listed The Bitcoin Fund on Nasdaq Dubai—the first major exchange-listed digital asset fund in the Middle East. In 2021 we grew exponentially as a firm, in our AUM, and in our commitment to provide investors with innovative products. Stay tuned for next year!”
Pascal St-Jean, President, 3iQ Corp.
“We’ve had a tremendous year in hiring new employees, bringing them all onboard remotely and driving a highly successful business from all over North America. The level of teamwork, collaboration and commitment in our growing 3iQ team will allow us to move forward faster, focused and even more fearless.”
Subscribe to the North iQ Weekly Newsletter and What Happened in Bitcoin & Ether? reports and stay updated on 3iQ’s news, announcements and developments in 2022.
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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.
