- 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.