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3iQ, a Canadian investment fund manager, has teamed up with Coinshares to launch a Bitcoin exchange-traded fund.

3iQ has filed a final prospectus for a Bitcoin (BTC) exchange-traded fund, or ETF, with securities regulatory authorities in each of Canada’s ten provinces and three territories, according to an announcement. Trading for the ETF is scheduled to begin on the Toronto Stock Exchange in early April, pending regulatory approval.

The joint project, according to CoinShares CEO Jean-Marie Mognetti, is aimed at “making digital assets more available to investors of all types.” The fund’s units would most likely trade under the ticker “BTCQ.U” in the United States and “BTCQ” in Canada.

Given the Securities and Exchange Commission’s (SEC) apparent hesitancy in authorizing a fund, Canadian investment firms have largely taken the lead in launching crypto ETFs in North America. Purpose Investments, based in Toronto, launched a Bitcoin ETF in February, and Ninepoint Partners is reportedly preparing to convert its Bitcoin confidence to an ETF as well. In March, Evolve Funds Group revealed that it had filed a prospectus with Canadian regulators in order to start trading an Ether ETF.

In April 2020, 3iQ was behind the creation of Canada’s first Bitcoin fund. Since then, the fund has risen to over $1 billion, with Coinshares and 3iQ controlling a total of $7 billion in assets.

“Since 3iQ received a landmark decision in Canada to allow listed Bitcoin vehicles, we have closely followed their incredible growth,” said Mognetti.

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