3iQ Launched Bitcoin and Ethereum ETFs With Low Fees Structure
- 3iQ is waiving the management cost for three months.
- Both ETFs are available in Australian dollars for the purchase.
On Tuesday, 3iQ Canada’s first and largest virtual asset investment fund manager, launched two cryptocurrency exchange-traded funds (ETFs) in Australia with the lowest fee structure.
#3iQ is the Latest #Crypto #ETF Fund Manager to Join the Australian Market
— Fortune Crypto (@fortune_btc) June 7, 2022
Following Australia’s recent legalization of crypto-based exchange-traded funds, 3iQ launched two crypto feeder ETFs. One is 3iQ CoinShares Bitcoin Feeder ETF (BT3Q) and another is 3iQ CoinShares Ether Feeder ETF (ET3Q).
The Feeder Fund
Both ETFs are based in Australia and will serve as a “Feeder Fund” for Bitcoin and Ether. The asset’s price is tracked by the two feeder funds and these crypto feeder ETFs are available on the Cboe Australia Exchange.
The Bitcoin ETF and the Ether ETF are created to give investors exposure to bitcoin and ether. The funds provide daily exposure to the actual crypto asset’s price movement in US dollars. 3iQ currently offers the lowest tracking errors among digital asset-based ETFs in Canada.
With a total management expense ratio of 1.20%, 3iQ will list both products with the lowest fee structure accessible in Australia. Also, 3iQ is waiving the management cost for three months.
In early May, Australian ETFS Management (AUS) Ltd. and Swiss 21Shares AG launched two spot-traded Bitcoin and Ethereum ETFs.
By 3iQ’s respective spot-traded Bitcoin and Ethereum funds trading on the Toronto Stock Exchange. As well as it has a possibility for long-term capital gain and both ETFs have units that can be purchased in Australian dollars.
Read more: https://thenewscrypto.com/3iq-launched-bitcoin-and-ethereum-etfs-with-low-fees-structure/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
