Coinshares and 3iQ, two of the world’s biggest crypto asset managers have announced plans to list a bitcoin ETF at the Toronto Stock Exchange (TSX).

That follows the approval of the final prospects, with the ETF to launch this April once it satisfies TSX’s original listing requirements.

It will trade under BTCQ for the Canadian pair and BTCQ.U for the dollar pair, with it so increasing competition in bitcoin share traded funds.

“With inflows into digital asset investment funds exceeding US$6 billion in the first quarter of 2021, and global assets under management reaching a new record of €46.25 billion, our team at CoinShares believes digital assets will continue to grow as more investors look for cost-efficient vehicles to access this exciting new asset class,” said Jean Marie Mognetti, CoinShares’ CEO.

Coinshares itself is the world’s first company to provide bitcoin exchange trading products starting in Sweden’s Nasdaq in 2014, to then expand to much of Europe and now Canada.

3iQ is a new entrant, launching just last year with its two bitcoin funds for cad and usd QBTC already reaching $3 billion in assets under management.

3iQ’s ethereum fund has also risen to $365 million after it launched just this December, raising $75 million at the time.

This fast growth coincides with bitcoin’s appreciation in price following an increased appetite by institutional investors and the general public due to bitcoin’s increasing scarcity in new supply.

Something this new ETF aims to serve with its purpose being providing exposure to bitcoin and its price movements in a stock traded form.

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