Coincheck Group Makes $112 Million Power Move, Snapping Up 97% of 3iQ Corp.
Japan's crypto exchange giant just placed a massive bet on North America's digital asset future.
The Deal That Shakes Two Continents
Coincheck Group, a heavyweight under the watchful eye of Japan's Financial Services Agency (FSA), has executed a strategic takeover. The target? 3iQ Corp., one of Canada's premier digital asset investment fund managers. The price tag? A cool $112 million for a controlling 97% stake. This isn't just an acquisition; it's a bridge between Asia's regulated crypto markets and North America's burgeoning investment product landscape.
Why This Move Matters Now
Forget slow, organic growth. Coincheck is buying a ready-made platform and expertise. 3iQ's suite of publicly listed funds, including the first Bitcoin fund in the Americas, gives the Japanese group instant credibility and distribution in a new market. It's a classic play: use capital to bypass years of regulatory groundwork and brand building. One cynical finance veteran might call it 'acquiring innovation the old-fashioned way—by writing a big check.'
The Ripple Effect
This deal signals a new phase of consolidation. Major players aren't just competing; they're assembling global portfolios. For investors, it means more sophisticated, cross-border products are on the horizon. For the industry, it underscores that real growth now happens through boardrooms and mergers as much as through mining rigs and code commits. The race for institutional dominance just cut out the middleman and went straight for the throne.
Coincheck Group acquires 3iQ
Monex Group agreed to exchange its 97% stake in 3iQ for 27.1 million newly issued Coincheck ordinary shares, which are valued at $4 each. Coincheck could offer similar terms and 810,435 additional shares to 3iQ’s minority shareholders and achieve 100% ownership.
The transaction is expected to close during the second quarter of 2026.
3iQ was founded in 2012 and became Canada’s first regulated Digital Asset Investment Fund Manager in 2017. Its most notable achievements include launching what it promotes as North America’s first major exchange-listed Bitcoin and Ether funds on the Toronto Stock Exchange in 2020.
More recently, the company introduced its ethereum staking ETF in 2023. In 2025, 3iQ expanded its offerings with one of the first Solana staking ETFs and a spot-based XRP ETF.
Coincheck is on an expansion streak
This deal follows Coincheck’s acquisition of Aplo SAS, a Paris-based registered crypto prime brokerage serving institutional investors, in October 2025. In March earlier the same year, Coincheck purchased Next Finance Tech Co., a staking platform services company.
Coincheck’s plans include 3iQ and Aplo potentially cross-selling services to their respective institutional client bases, and Next Finance providing staking infrastructure for the project.
Monex Group’s CEO Yuko Seimi said the reorganization will provide “increased opportunities for growth and success internationally” in both crypto-asset and asset and wealth management businesses, calling it a win-win for shareholders of both companies.
The transaction helps Coincheck spread public company costs over a larger and more diversified revenue base. 3iQ’s established presence in Canadian and North American markets means that Coincheck gains immediate access to regulated institutional crypto investment products and infrastructure that would have taken years to build independently.
Oppenheimer & Co. advised Coincheck Group on the transaction, and the company received legal counsel from De Brauw Blackstone Westbroek, Simpson Thacher & Bartlett, and Stikeman Elliott. Monex was advised by Cinaport Capital and Wildeboer Dellelce.
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