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Press Release

The Bitcoin Fund Announces Extent of Participation in Annual Redemption as well as Voluntary Conversion Option to the 3iQ CoinShares Bitcoin ETF​

The Bitcoin Fund
June 1, 2021

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Not for distribution to U.S. newswire services or for dissemination in the United States.

This announcement and the information contained herein is restricted and is not for release, publication, or distribution, in whole or in part, directly or indirectly in, or into or from the United States or any other jurisdiction in which the same would be unlawful. Further, this announcement is for information purposes only and shall not constitute an offer to sell or issue or the solicitation to buy, subscribe for or otherwise acquire any securities of The Bitcoin Fund or the 3iQ CoinShares Bitcoin ETF in any jurisdiction in which any such offer or solicitation would be unlawful.

Toronto, June 01, 2021 (GLOBE NEWSWIRE) | 3iQ Corp. (“3iQ”), the largest digital asset manager in Canada, announced today that, as of May 31, 2021, being the cut-off date relating to both the annual redemption feature of The Bitcoin Fund (the “Fund”) as well as the voluntary conversion option to the 3iQ CoinShares Bitcoin ETF (the “ETF”): 1,971,302 units of the Fund (each, a “Unit”), representing 9.42% of the outstanding Units, were surrendered for in-kind redemption on June 16, 2021 (the “Annual Redemption Date”); 189,073 Units, representing 0.90% of the outstanding Units, were surrendered for cash redemption on the Annual Redemption Date; and 7,098,564 Units (the “Conversion Units”), representing 33.94% of the outstanding Units, were surrendered for conversion to units of the ETF (“ETF Units”).

The Conversion Units will be converted to 47,325,940 ETF Units on June 1, 2021 on a relative net asset value basis (NAV-for-NAV) resulting in a new total of 155,900,940 outstanding ETF Units and assets under management in the 3iQ CoinShares Bitcoin ETF of C$1.164 billion.

Under the terms of the annual redemption of the Fund, the redemption price per Unit will be determined by 3iQ on the Annual Redemption Date and Unitholders who have redeemed Units can expect to receive payment of the redemption price per Unit on or before July 8, 2021. Further details will be announced on June 17, 2021 following the Annual Redemption Date.

About 3iQ Corp.

Founded in 2012, 3iQ is Canada’s largest digital asset investment fund manager with over C$2.5 billion in assets under management. 3iQ was the first Canadian investment fund manager to offer a public bitcoin investment fund, The Bitcoin Fund (TSX: QBTC, QBTC.U), and a public Ether investment fund, The Ether Fund (TSX: QETH.UN, QETH.U). More recently, 3iQ launched the 3iQ CoinShares Bitcoin ETF (TSX: BTCQ, BTCQ.U) and the 3iQ CoinShares Ether ETF (TSX: ETHQ, ETHQ.U). 3iQ offers investors convenient and familiar investment products to gain exposure to digital assets. For more information about 3iQ and its digital asset investment funds, visit www.3iq.io or follow us on Twitter @3iQ_corp.

Please read the prospectus before investing. Important information about the ETF is contained in the prospectus. Copies of the prospectus may be obtained from 3iQ Corp. or at www.sedar.com.

You will usually pay brokerage fees to your dealer if you purchase or sell units of the ETF on a stock exchange or other alternative Canadian trading system (an “exchange”). If units of the ETF are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.

IMPORTANT NOTICES

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED THEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

This announcement should not be distributed, forwarded, transmitted or otherwise disseminated in or into the United States. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for securities in the United States or any other jurisdiction. The ETF’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or under the applicable securities laws of any state or other jurisdiction of the United States, and may not be offered, sold, resold, transferred or delivered, directly or indirectly within, into or in the United States, absent registration or an applicable exemption from, or except in a transaction not subject to, the registration requirements of the Securities Act and in compliance with the securities laws of any relevant state or other jurisdiction of the United States. Neither this announcement, nor the fact that it has been disseminated, shall form the basis of, or be relied upon in connection with, any future information that we distribute.

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3iQ Corp. (“3iQ”) is a Canadian investment fund manager focused on providing investors with exposure to digital assets, disruptive technologies and the blockchain space. 3iQ was the first Canadian investment fund manager to agree to terms and conditions with the Canadian securities regulatory authorities to manage a public bitcoin investment fund and multi- cryptoasset fund for Canadian accredited investors. Units of certain 3iQ Funds are offered through prospectus and through prospectus exemptions. Please read the offering documents carefully before investing.

© 2024 3iQ Corp. All rights reserved. Investing in digital assets involves risks.
Please read all offering documents carefully before investing.

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