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Toronto-based 3iQ Corp. has received formal approval from Canadian securities regulators to act as a portfolio manager and investment fund manager permitted to invest in multiple cryptoassets, the firm announced Thursday.

3iQ’s Global Cryptoasset Fund will invest directly in units of bitcoin, ether and litecoin, three of the leading cryptoassets.

Units of the fund will be available to accredited investors, advisors and dealers via Fundserv, and to pension funds, institutions and family offices via private placement, the firm says in its announcement.

3iQ aims to launch and complete its first close within the next few weeks.

“We have worked diligently to provide a pure, low-cost, secure method for both accredited and institutional investors to assume a core position in this new and expanding asset class,” says Frederick Pye, 3iQ CEO, in a statement.