Highlights:
- Canada-based investment fund manager 3iQ Corp. received the green
light from the Ontario Securities Commission to open a Bitcoin Fund
Canadian investment
fund manager 3iQ received initial approval on its long road to launch a
closed-end bitcoin fund on the Ontario Stock Exchange later this quarter.
3iQ had been working
closely with the OSC’s Investment Funds and Structured Products Branch to
create an investment fund allowing retail investors to participate in a
regulated and listed fund, according to Pye.
Fred Pye, President
& CEO of 3iQ.said, “Over the past three years, we have worked actively with
the OSC’s Investment Funds and Structured Products Branch to create an
investment fund that we hope will allow retail investors the benefits of
investing in bitcoin through a regulated, listed fund.”
The Winklevoss
twins’ company Gemini would be the custodian of the Bitcoin in the fund.
Cameron Winklevoss said that 3iQ has carefully selected a team of professional
partners with expertise in the digital asset industry to construct a safe and
secure fund product for the Canadian market, and they are excited to be
selected as their custodian.
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