Coincheck acquires Canadian digital asset management company 3iQ for $112 million, holding BTC/ETH/SOL multi-chain asset funds

RumbleValidator · 2026-01-08T12:38:11+00:00

Japan's cryptocurrency platform Coincheck announces the acquisition of approximately 97% of Canadian 3iQ, with a transaction valuation of $112 million. This merger will enhance Coincheck's asset management capabilities and improve its competitiveness in the multi-chain asset sector.

RumbleValidator

2026-01-08 12:38:11

Abstract generation in progress

【BlockBeats】The exchange industry is making big moves again. The Japanese crypto platform Coincheck, listed on Nasdaq, just announced an agreement with Monex Group to acquire approximately 97% of the shares of Canadian digital asset management company 3iQ.

What is the valuation of this deal? The overall valuation of 3iQ is $112 million, with Coincheck Group’s common stock priced at $4.00 per share. Monex’s 97% beneficial ownership of 3iQ will be directly exchanged for 27,149,684 new shares of Coincheck Group. Additionally, Coincheck Group will offer the same consideration to other minority shareholders of 3iQ, with up to an additional 810,435 shares, ensuring that Coincheck Group ultimately acquires 100% of 3iQ.

Why do this? 3iQ is no small player—since its founding in 2012, it has launched North America’s first Bitcoin and Ethereum funds listed on the Toronto Stock Exchange. By 2025, the company has been active, launching Solana staking ETFs and XRP spot ETFs, continuously expanding its product line. Through this acquisition, Coincheck is essentially integrating a mature fund management capability that covers multi-chain assets into its ecosystem.

BTC-0,02%

ETH0,01%

SOL1,54%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

14 Likes

Reward
14
9
Repost
Share

Comment

0/400

AllInAlice

· 01-11 06:10

Coincheck's move is pretty good. The fund assets on the 3iQ side look quite solid, holding BTC/ETH/SOL all together. Just not sure if there will be any changes later on.

View OriginalReply0

FallingLeaf

· 01-10 21:58

Things are moving quite quickly here in Japan. They directly acquired 3iQ and gained exposure to BTC/ETH/SOL. Now Coincheck's asset allocation is truly complete.

View OriginalReply0

YieldWhisperer

· 01-10 12:28

1.12 billion dollars to acquire a fund management company? Coincheck is laying the groundwork for the stock price after going public.

View OriginalReply0

FantasyGuardian

· 01-10 03:52

1.12 billion USD acquisition of an asset management company, what is Coincheck thinking? Are they trying to expand? --- This move is quite aggressive, directly aiming to take over the Canadian asset management market. --- Wait, what are they doing with 3iQ's BTC/ETH/SOL funds? Are they planning to custody them themselves or what? --- A Nasdaq-listed company acquiring a firm, it feels like there's a deep strategy behind it... That over 2.7 billion shares issuance must be quite shocking. --- What is Coincheck's move here? Are they aiming to become a global asset management leader? They seem a bit ambitious. --- Diluting shares to acquire assets, retail investors might get cut again. This is something to watch closely. --- They have BTC, SOL, ETH—are they bullish on the long-term value of these three assets or what? --- $112 million to acquire this company, it doesn't seem that expensive. For Coincheck, it might just be a small deal. --- The key is how much AUM 3iQ can bring to Coincheck afterward; otherwise, this acquisition might just be for show.

View OriginalReply0

SolidityJester

· 01-08 13:01

$112 million acquisition of 3iQ, Coincheck's move is quite aggressive. I just wonder if this BTC/ETH/SOL multi-chain fund can withstand the subsequent market trends.

View OriginalReply0

RunWhenCut

· 01-08 12:57

Damn, it's the same old trick again, constantly acquiring companies, why isn't the price moving?

View OriginalReply0

AmateurDAOWatcher

· 01-08 12:53

Another round of the merger and acquisition game, the old way of exchanges growing bigger and stronger, but the bunch of BTC/ETH/SOL assets from 3iQ does seem a bit suspicious. Are you optimistic about Coincheck's layout or pessimistic about this valuation? I'm feeling hesitant. 1.12 billion is indeed not expensive, but the key is whether they can truly integrate these on-chain asset management businesses later on. It feels like the exchange is once again expanding its territory wildly, and this kind of life can't go on for much longer. Spending over 270 million in stocks to acquire 97% equity—could this be another prelude to a wave of cutting the leeks... Will the merger impact 3iQ's original fund management? That depends on how they coordinate. Wait, Monex is still in the picture? Can we trust this family-style approach?

View OriginalReply0

MEVHunterLucky

· 01-08 12:49

1.12 billion USD to buy an asset management company, just for those few funds? Feels a bit expensive. --- What is coincheck planning to do with this move? Entering the North American market or something else? --- Wait, will these 27 million newly issued shares dilute existing shareholders? --- Canada's 3iQ, I've heard their BTC fund is pretty good, but this price... I just can't quite understand. --- Another stock swap acquisition, this routine is familiar. In the end, retail investors are still the ones taking the risk. --- Holding multi-chain asset funds at least involves actual business operations, which is more stable than just running an exchange.

View OriginalReply0

GasFeeTears

· 01-08 12:48

Manipulating equity ratios can also be played like this; Coincheck's approach is quite meticulous.

View OriginalReply0