A $1.45 billion Bitcoin fund is soon listing on NASDAQ Dubai |

3IQ Corp, the company behind the $1.45 billion bitcoin fund listed on the Toronto Stock Exchange (TSX), is preparing to list on the Nasdaq in Dubai, local affiliate The National reported today.

We expect a listing in the second or third week of May and a transaction by the end of the month. The listing of the fund on the Middle East exchange will also help in terms of trading hours, as bitcoin is traded 24/7, said Frederick Pye, president and CEO of 3IQ.

According to the report, the fund is expected to be listed in Dubai by the end of the second quarter of 2021, after being approved by the Dubai Financial Services Authority.

Annual growth rate of $1.3 billion

The 3IQ Bitcoin Fund launched on the TSX in April, making it the first crypto fund to be listed on a major global exchange. Starting with about $14 million in assets, the fund has grown to an impressive $1.45 billion in just one year. This is partly due to the rapid rise in the price of bitcoin itself, which recently reached a new high of around $63,000.

According to The National, 3IQ and manager Dalma Capital expect initial sign-ups – where investors sign up and commit to invest – to be around $200 million, but they could be larger as the companies expect the supply to be large.

Meanwhile, Dalma Capital will host a three-week roadshow to market the fund. There would also be a presentation from Cameron and Tyler Winkelvoss, whose company Gemini is the manager of the 3IQ bitcoin fund.

Another three weeks are then dedicated to attracting potential investors.

This process will take place with us, along with other institutions that have a good reputation in the region, explains Zachary Cefaratti, founder and CEO of Dalma, adding: What we have seen is a significant slowdown. Many investors feel they missed out on this massive expansion of wealth that took place during the bitcoin boom.

3iQ CoinShares Bitcoin ETF > Now tradable on the TSX under the symbols $BTCQ (CAD) and $BTCQ.U (USD)https://t.co/[email protected] @dannylmasters @Melt_Dem @CoinSharesCo @TMXGroup @MVISIndices @Gemini @tyler @cameron pic.twitter.com/7JpNlxRjTS

– 3iQ Digital Asset Management (@3iq_corp) April 19, 2021

3IQ also recently launched a bitcoin exchange traded fund on the TSX, making it the fourth such fund to be approved in Canada.

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A $1.45 billion Bitcoin fund is soon listing on NASDAQ Dubai |

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