Bitcoin Finance Company (BTCT)the provider of institutional lending and liquidity services said it purchased 292.80 bitcoin.

$43 million ($31.6 million)launches accumulation strategy aimed at building a robust digital assets Ministry of Finance.

The Toronto-based company said it plans to use ownership to support its institutional loan operations, deeming Bitcoin both a long-term reserve asset and an important part of its revenue model.

With the $125 million raised from recently completed intermediary stock offerings and revenues resulting from the purchase of BTC, Bitcoin Treasury aims to provide institutional-grade services related to the digital asset economy. It said it will focus on disciplined risk management and shareholder value creation as it will take on leadership in Bitcoin-backed financial solutions.

The company’s shares are scheduled to begin trading at TSX Venture Exchange on June 30th. Following the reverse acquisition of 2680083Alberta Ltd., shares in the merged entity were listed on C$10 on Thursday and were immediately suspended by the exchange.

Neither BTCT nor 268 shares were previously listed, but the merger is a shortcut for companies that allows BTCT to become a public company without traditional IPOs, using 268 as a private shell vehicle specifically set up for this purpose.

The service included several financial institutions, including Canaccord Genuity, Stifel, National Bank Financial Markets, BMO Capital Markets and CIBC Capital Markets.

Crypto asset manager 3iQ has introduced an XRP

exchange-traded fund (ETF) on the Toronto Stock Exchange, the company said on Wednesday.

The 3iQ XRP ETF (TSX: XRPQ) will launch with a 0% management fee for the first six months and is available for investment through registered accounts in Canada, and its TSX listing enables access for qualified investors globally, subject to local regulations, according to a press release.

Earlier this week, asset manager Purpose Investments announced it would also begin on Wednesday trading of a spot XRP ETF on the Toronto Stock Exchange under the XRPP ticker.

3iQ was one of the first fund managers to list a bitcoin

fund, with its Bitcoin Fund on the TSX, and the first with a publicly listed ether fund, also in Toronto. Ripple, the creator of the XRP token, is an early investor in 3iQ’s XRPQ vehicle (the amount invested was not disclosed).

“XRP has demonstrated significant growth potential over the past decade, and this groundbreaking strategy offers Canadian and qualified global investors a transparent, low-cost and tax-efficient way to securely access that opportunity,” said Pascal St-Jean, president and CEO of 3iQ.

“Ripple Labs’ investment support reflects our shared leadership in advancing the digital asset space,” he said.

The 3iQ team will ring the closing bell this afternoon on the TSX floor to commemorate the ETF launch, the company said.

Read more: Spot XRP ETF Set to Start Trading in Canada This Week After Regulatory Nod, Token Up 7%