Coincheck acquires 3iQ for $112 million: what it means for the cryptocurrency ETF market

Source: Yellow Original Title: Coincheck acquires 3iQ for $112 million: what it means for the cryptocurrency ETF market

Original Link: The Coincheck Group, listed on Nasdaq, announced on Thursday that it will acquire 97% of the Canadian digital asset manager 3iQ Corp. for $111.8 million.

The deal marks the third strategic acquisition in 12 months by Japan’s leading cryptocurrency exchange.

The transaction is expected to close in the second quarter of 2026, pending regulatory approval.

What happened

Coincheck will issue 27,149,684 new common shares valued at $4.00 each to acquire the 97% stake from the majority shareholder Monex Group.

The agreement includes provisions to offer equivalent terms to minority shareholders, with the possibility of issuing up to 810,435 additional shares to reach 100% ownership.

3iQ became in 2017 the first regulated investment fund manager in digital assets in Canada.

The firm launched in 2020 North America’s first Bitcoin (BTC) and Ethereum (ETH) ETFs on the Toronto Stock Exchange.

Last year, 3iQ introduced staking ETFs for Solana (SOL) and spot ETFs for XRP.

Why it matters

The acquisition brings to Coincheck 12 years of operational history and the range of institutional products from 3iQ.

“By combining our strengths, we believe we will be better positioned to meet the needs of institutional and sophisticated investors,” said Gary Simanson, CEO of Coincheck Group.

This is Coincheck’s third purchase in 12 months, following the acquisitions of Aplo SAS in October 2025 and Next Finance Tech in March 2025.

Coincheck anticipates revenue synergies with 3iQ and Aplo by offering services to institutional clients.

The deal is expected to be accretive to earnings.