Home / Cryptocurrency / Canadian asset manager set to offer trading of bitcoin fund in coming months
Canadian asset manager set to offer trading of bitcoin fund in coming months

Canadian asset manager set to offer trading of bitcoin fund in coming months

Canadian asset manager set to offer trading of bitcoin fund in coming months

Canadian asset manager 3iQ has filed a prospectus for a regulated fund tied to bitcoin, the company introduced Thursday morning. 

The closed-ended fund would offer traders “exposure to the digital currency bitcoin and the daily price movements of the U.S. dollar price of bitcoin,” a press unencumber famous. It may record at the Toronto Stock Exchange and start trading once the tip of 2019, a spokesperson instructed CoinDesk. 

The new product joins a slew of finances that observe the nascent commodity, together with Grayscale’s GBTC, which trades over the counter and mimics some of the functionalities of an exchange-traded fund. In Europe, Amun provides a number of exchange-traded merchandise tied to cryptocurrencies which might be an identical to the 3iQ product. 

As for the 3iQ’s new product, it’s been in the works for a number of years, in accordance to the company. The firms had been operating at the release in tandem with the Ontario Securities Commission for 3 years. 

In October, 3IQ introduced that it had won “favourable ruling” from the Ontario Securities Commission for its bitcoin fund.

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