Key Takeaways
- • Apex Group appointed as fund administrator, transfer agent, and custody service provider for 3iQ Digital Asset Management's newly listed Australia-based Bitcoin and Ether feeder ETFs on Cboe Australia.
- • 3iQ, Canada's largest digital asset fund manager with CAD$1.8 billion in assets under management as of June 3, 2022, expands its product suite beyond Toronto Stock Exchange listings into Australian markets.
- • The partnership grants Australian investors indirect exposure to Bitcoin and Ether through 3iQ's existing ETF structures, leveraging Apex's digital asset servicing capabilities and compliance infrastructure.
- • Apex provides a single-source solution encompassing fund administration, listed transfer agency, and custody services, positioning itself as a specialized provider for emerging digital asset fund structures.
Summary
Apex Group has secured a mandate from 3iQ Digital Asset Management to administer and service two newly launched cryptocurrency-focused ETFs listed on Cboe Australia. The products—3iQ CoinShares Bitcoin Feeder ETF and 3iQ CoinShares Ether Feeder ETF—represent an extension of 3iQ's existing Toronto Stock Exchange-listed offerings into the Australian market.
3iQ, founded in 2012, holds the position of Canada's largest digital asset investment fund manager with CAD$1.8 billion in assets under management as of June 3, 2022. The firm was the first Canadian investment fund manager to launch a public bitcoin investment fund, establishing its credentials as a pioneer in regulated digital asset investment products. The new feeder ETF structures allow Australian investors to gain exposure to Bitcoin and Ethereum through units purchased on 3iQ's existing ETF framework.
Under the engagement, Apex will deliver fund administration, listed transfer agency, and custody services through its single-source platform. Nick Bradford, Head of Business Development, Oceania at Apex Group, emphasized the strategic fit: "3iQ has been at the forefront of the digital assets investing revolution, as the first regulated Digital Asset Investment Fund Manager in Canada, and now bringing new and innovative fund structures and products to market in Australia. We are delighted to be supporting the 3iQ team with our single source solution which is well-equipped to meet the unique needs of listed digital asset managers."
3iQ CEO Fred Pye characterized the partnership as an alignment of forward-thinking approaches, noting that Apex shares the firm's willingness to embrace service requirements for emerging product types and asset classes. The appointment underscores growing institutional demand for specialized back-office and compliance infrastructure in the digital assets space, as established fund managers expand their geographic footprint and product offerings in cryptocurrency markets.
3iQ, founded in 2012, holds the position of Canada's largest digital asset investment fund manager with CAD$1.8 billion in assets under management as of June 3, 2022. The firm was the first Canadian investment fund manager to launch a public bitcoin investment fund, establishing its credentials as a pioneer in regulated digital asset investment products. The new feeder ETF structures allow Australian investors to gain exposure to Bitcoin and Ethereum through units purchased on 3iQ's existing ETF framework.
Under the engagement, Apex will deliver fund administration, listed transfer agency, and custody services through its single-source platform. Nick Bradford, Head of Business Development, Oceania at Apex Group, emphasized the strategic fit: "3iQ has been at the forefront of the digital assets investing revolution, as the first regulated Digital Asset Investment Fund Manager in Canada, and now bringing new and innovative fund structures and products to market in Australia. We are delighted to be supporting the 3iQ team with our single source solution which is well-equipped to meet the unique needs of listed digital asset managers."
3iQ CEO Fred Pye characterized the partnership as an alignment of forward-thinking approaches, noting that Apex shares the firm's willingness to embrace service requirements for emerging product types and asset classes. The appointment underscores growing institutional demand for specialized back-office and compliance infrastructure in the digital assets space, as established fund managers expand their geographic footprint and product offerings in cryptocurrency markets.
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