Toronto’s 3iQ has launched a new cryptoasset fund to provide investors exposure to altcoins.
The 3iQ Global Cryptoasset Fund will continue to invest primarily in bitcoin and ether, similar to its predecessor fund which it merged with, however the Fund will also hold other leading digital assets including Algorand (ALGO), Avalanche (AVAX), Cardano (ADA), Chainlink (LINK), FTX Token (FTT), Polkadot (DOT), Polygon (MATIC), Stellar (XLM), Tezos (XTZ) and Solana (SOL).
The fund merger was approved by unitholders of the predecessor fund at a special meeting held on February 23, 2022.
The Fund’s portfolio will consist of bitcoin (40%) and ether (25%) with the balance (35%) invested in the other leading digital assets, based on the weighting of such digital assets in the MVIS CryptoCompare Optimum Global Cryptoasset Index, a market-capitalization based index. The Fund has an exclusive licence to use this Index.
“When we first launched the 3iQ Global Cryptoasset Fund [the predecessor of the Fund], it was one of the first of its kind to offer accredited investors exposure to a diverse portfolio of multiple cryptocurrencies,” said Fred Pye, Chairman and CEO of 3iQ. “And now, we are excited to be expanding our investors’ positions by leveraging the MVIS multi-token index to provide Canadian investors access to key Layer 1 and Layer 2 blockchains and even more diversification within the fund.”