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 1, 2022 – 3iQ Corp. (“3iQ”) announced today that, as of May 31, 2022, 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”): 33,684 units of the Fund (each, a “Unit”), representing 0.29% of the outstanding Units, were surrendered for cash redemption on June 16, 2022 (the “Annual Redemption Date”), and 3,591,213 Units (the “Conversion Units”), representing 31.13% of the outstanding Units, were surrendered for conversion to units of the ETF (“ETF Units”).
The Conversion Units will be converted to 23,462,037 ETF Units on June 1, 2022, on a relative net asset value basis (NAV-for-NAV), resulting in a new total of 143,712,977 outstanding ETF Units and assets under management in the 3iQ CoinShares Bitcoin ETF of C$957,933,219.
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, 2022. Further details will be announced on June 17, 2022 following the Annual Redemption Date.
About 3iQ Corp.
Founded in 2012, 3iQ Corp. (3iQ) is Canada’s largest digital asset investment fund manager with more than C$1.8 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) (TSX: QBTC.U), and a public ether investment fund, The Ether Fund (TSX: QETH.UN)(TSX: QETH.U). More recently, 3iQ launched the 3iQ CoinShares Bitcoin ETF (TSX: BTCQ) (TSX: BTCQ.U) and the 3iQ CoinShares Ether ETF (TSX: ETHQ) (TSX: ETHQ.U). 3iQ offers investors convenient and familiar investment products to gain exposure to digital assets.
For more information about 3iQ:
Visit us at 3iQ.ca
Twitter: @3iQ_corp
LinkedIn: https://www.linkedin.com/company/3iq-corp/
YouTube: https://www.youtube.com/c/3iQDigitalAssetManagement
Voxels HQ: https://www.cryptovoxels.com/play?coords=S@203W,469N
Press Contact:
Tara Christie
E: tarac@3iQ.ca
P: +1 (416) 639-2130