Canadian Ether Fund Launches, Swiss Bank Tokenizes Shares, New German Law Passed
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Earlier this month, 3iQ Corp., a Toronto-based investment management firm, announced the listing of its fund, The Ether Fund (the Fund), on the Toronto Stock Exchange, following the recent completion of its initial public offering for approximately US $76.5 million. The Fund aims to provide investors with the ability to purchase shares in the Fund and receive exposure to changes in ether’s price over time. The same company launched a similar bitcoin fund earlier this year.
This week, Sygnum announced that it was the world’s first bank to tokenize its shares on a distributed ledger, thereby laying the foundation for a future public offering. The bank currently holds a banking license in Switzerland and a Singapore asset management license, and it plans to eventually list shares in those two countries. The announcement states that tokenization will allow the share registry to continuously and automatically update whenever capital increases or share transfers accord, allowing the bank to manage primary and secondary market transactions in a fully digital manner.