3iQ Digital Asset Management has joined forces with Coinbase and Tetra Trust Company in an effort to expand the exchange-traded product ecosystem for digital assets in Canada and generate further interest from the investment community.
As part of the agreement, Coinbase and Tetra will act as custodians for 3iQ’s ETPs, including the 3iQ CoinShares Bitcoin ETF and the Bitcoin Fund, which became North America’s first bitcoin ETP when it was launched in 2020. They will also act as custodians for 3iQ CoinShares Ether ETF and the Ether Fund. 3iQ has appointed Coinbase Prime to provide crypto trading, prime brokerage and reporting capabilities for its crypto ETP products. 3iQ will be transitioning out of its current custodianship arrangements, with the new partnership expected to come into full effect over the next few months.
3iQ is Canada’s largest digital asset investment fund manager with more than CAD700m (USD517m) AuM. Earlier this year 3iQ appointed Apex as administrator for two new feeder ETFs listed on Cboe Australia. Apex will provide 3iQ with fund administration, listed transfer agency and custody services.