3iQ Launches Ether Staking for Institutional Funds, Renames Ether ETF

In a notable development, Canadian regulated digital asset investment fund manager 3iQ has commenced ether (ETH) staking for its institutional quality funds. This initiative, which was initially suggested in June, encompasses The Ether Fund and funds identified by the ticker symbols QETH.UN, QETH.U, as well as ETHQ and ETHQ.U.

The staking process is anticipated to generate ETH rewards, enhancing their net asset value with an estimated yield of 4% based on current network rates. This makes the 3iQ Ether ETF the first global Ether ETF to implement staking. To celebrate this innovation, management fees for the Ether ETF will be waived until March 2024.

Starting this Friday, the Ether ETF will trade under a new name, "3iQ Ether Staking ETF." This pioneering move showcases 3iQ’s dedication to innovation within Canada’s exchange-traded product landscape for digital asset investment solutions.

The firm is partnering with key players to establish new standards in this field. Investors will receive an additional yield from Ethereum’s "Proof of Stake" consensus mechanism. Fred Pye, CEO of 3iQ, highlighted their strong commitment to innovation and the unique chance for investors to engage in Ethereum’s growth.

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