3iQ launched bitcoin fund trading on Nasdaq Dubai after receiving regulatory approval for dual listing in April. With the help of the 3iQ Bitcoin Fund, Dubai investors will be able to access the crypto asset without buying BTC directly. The dual listing of the 3iQ bitcoin fund allows investors to swap assets between Nasdaq Dubai and the Toronto Stock Exchange (TSE).
Canada largest digital asset investment fund manager, 3iQ, is expanding its reach to global investors by listing its public bitcoin fund (BTC) in a major market in the Middle East.
3iQ has deployed its Bitcoin Fund (QBTC) to trade on Nasdaq Dubai. Trading began on Wednesday at 10:00 am Dubai time.
3iQ received regulatory approval for a dual listing of the Bitcoin Fund on Nasdaq Dubai in April 2021, with plans to begin trading in the second quarter. 3iQ CEO said the company is also in talks with other exchanges in Singapore, Taiwan, Sweden and the United States to list the fund.
The launch of the fund comes at a time when Bitcoin (BTC) and the general cryptocurrency market are facing severe turbulence and volatility. On Tuesday June 22nd, the BTC price dropped to a low of $ 29,000. However, 3iQ CEO, Frederic Pye, is confident about the future of Bitcoin.
“We could be in for another correction, or most likely the markets consolidate over the summer and then the markets again will go to an all-time-high on Bitcoin, if you believe in the thesis. That means investors in Dubai are going to be in a perfect position to make some money, which is a win, win, win situation.”
With this dual listing 3iQ Bitcoin fund in Canada as well as the UAE, investors can easily transfer funds from the Toronto Stock Exchange to the Nasdaq Dubai. In addition, investors from any region can directly purchase shares of bitcoin funds on other exchanges.
Pye added:
“It’s extraordinary access for investors in Dubai to be able to just go to the Dubai Nasdaq, in their time slot, and buy something that shows up in their investment account like any other security would.
The ease of transaction, the ease of moving in and out, is absolutely wonderful with this listed security, yet up until now they were only able to do these listed securities by waiting for North American hours.”
3iQ is one of the biggest crypto companies in Canada. In January 2018 3iQ became the first cryptocurrency regulated by the Canadian Securities Administrators, and Ontario Securities Commission.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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