CANADA’S 3IQ TO BRING MIDDLE EAST’S FIRST LISTED CRYPTO FUND

Canadian digital asset management firm 3iq has received regulatory clearance for a dual listing of the Bitcoin Fund on Nasdaq Dubai, making it the Middle East’s first indexed cryptocurrency digital asset-based fund, 3iq’s CEO said. The Bitcoin Fund, which was listed on the Toronto Stock Exchange last year, has roughly US$1.5 billion in assets under management and plans to manage double that next year, Frederick Pye, chairman and CEO of 3iq, said. “The idea is Bitcoin trades 24 hours a day ... so our interest is to bring a regulated product to the Dubai market,” Pye said. The shares are expected to start trading on Nasdaq Dubai in the second quarter. Pye said 3iq is in talks with exchanges in Singapore, Taiwan, Sweden and the United States.