The Bitcoin Fund is to list on Nasdaq Dubai, becoming the Middle East’s first listed digital asset-based fund.
The fund was launched by Canadian-based 3iQ Digital Asset Management on the Toronto Stock Exchange in 2020, to great global fanfare, becoming the world’s first regulated, major exchange-listed bitcoin fund.
And 3iQ has revealed that it has received approval from the Dubai Financial Services Authority (DFSA) and Nasdaq Dubai to list the fund in the emirate. The listing is expected to be complete in the current quarter.
“Since its launch in Canada, we have seen tremendous success with The Bitcoin Fund having achieved approximately $1.37 billion assets under management. The fund truly provides investors a chance to get involved with a complex digital asset through a medium that is clear, concise and easy to understand,” said Frederick Pye, chairman and CEO, 3iQ Corp.
Frederick Pye, chairman and CEO, 3iQ Corp
3iQ Corp. is Canada’s largest digital asset investment fund manager with more than C$2 billion in assets under management.
Globally, bitcoin has seen tremendous growth as the world’s leading digital asset with price peaking at $60,000 per unit in March.
The Bitcoin Fund brings titled, auditable ownership of bitcoin through a traditional investment vehicle to the region for the first time, allowing for a publicly quoted mechanism for exposure to an asset class that has experienced exceptional appreciation over the preceding decade.
Dalma Capital, a global alternative investment platform, based in the Dubai International Financial Centre (DIFC), has been selected to be its syndicate manager for the regional expansion.
Zachary Cefaratti, CEO, Dalma Capital Management
“At Dalma Capital, we believe that The Bitcoin Fund from 3iQ offers an efficient solution for regional investors to access the asset class via a regulated investment vehicle with robust market infrastructure. We look forward to making this product available for clients on regional banking, wealth management and brokerage platforms,” said Zachary Cefaratti, CEO, Dalma Capital Management.
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