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.

An edge in the cryptocurrency market

Get access to more cryptographic insights and context in every article as a paid Edge member.

Chain Analysis

Price overview

More context

Join now for $19 a month Discover all the benefits

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

Do you like what you see? Subscribe to updates.

Related Tags:

qbtcnew canadian bitcoin fundthe bitcoin fundbitcoin fund canada3iq bitcoin fundnew bitcoin fund,People also search for,Privacy settings,How Search works,qbtc,new canadian bitcoin fund,the bitcoin fund,bitcoin fund canada,3iq bitcoin fund,new bitcoin fund,the bitcoin fund (tsx),bitcoin fund explained

Get in Touch

Related Articles

Stellar Lumens Price Prediction (XLM) for 2021, 2022, & 2025

Stellar is one of the most promising cryptocurrencies in the market, with a $4 billion market cap and an impressive number of partnerships. Its...

Ray Dalio Says if Successful, Bitcoin Will Be Killed by Authorities

Ray Dalio, the billionaire founder of Bridgewater Associates, believes that if Bitcoin were to become successful, authorities would kill it. Ray Dalio, the founder of...

QTUM Coin – Ultimate Cryptocurrency Guide for 2018

QTUM is a project with the mission of providing blockchain technology to mobile devices. It was founded by the Chinese company, Alibaba Group Holding...

Latest Posts

Stellar Lumens Price Prediction (XLM) for 2021, 2022, & 2025

Stellar is one of the most promising cryptocurrencies in the market, with a $4 billion market cap and an impressive number of partnerships. Its...

Ray Dalio Says if Successful, Bitcoin Will Be Killed by Authorities

Ray Dalio, the billionaire founder of Bridgewater Associates, believes that if Bitcoin were to become successful, authorities would kill it. Ray Dalio, the founder of...

QTUM Coin – Ultimate Cryptocurrency Guide for 2018

QTUM is a project with the mission of providing blockchain technology to mobile devices. It was founded by the Chinese company, Alibaba Group Holding...

Bitcoin Has Tapped $50K Since May; Total Market Capitalization Turns $943B

Bitcoin has reached $50,000 in value since May and the total market capitalization of cryptocurrencies is now at $943 billion. The price surge is...

How to Buy Ark Coin: Using Coinbase and Binance

Ark is a platform that runs on its own blockchain. It allows for the creation of dApps and smart contracts, which are then run...