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2021.04.20

Canadian Bitcoin Fund to be listed on Nasdaq Dubai in the Middle East

Canada’s largest digital asset manager, 3iQ Corp, has been found to launch a Bitcoin (BTC) fund in Dubai’s Nasdaq.

The Bitcoin Fund, a Bitcoin (BTC) investment product launched by 3iQ in Canada last year, is traded on the Toronto Stock Exchange.

The fund has been approved by Dubai regulators and will be listed on the Nasdaq Dubai stock exchange, Nasdaq Dubai, within the second quarter.

The Bitcoin Fund is a product based on the Bitcoin index, and currently manages Bitcoin worth 170 billion yen. This fund is similar to the Bitcoin investment trust “GBTC” provided by US Grayscale, and GBTC’s Bitcoin assets under management amount to about 4 trillion yen.

CEO Frederick Pye, who was interviewed by Reuters, explained that the goal is to double the investment amount next year. He also revealed that he plans to list The Bitcoin Fund not only in Dubai but also in Singapore, Taiwan and Sweden.

https://www.reuters.com/article/crypto-currency-emirates/canadas-3iq-to-bring-middle-easts-first-listed-crypto-fund-to-nasdaq-dubai-idUSL4N2MC30N

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