The Gibraltar Stock Exchange has announced the 3iQ Bitcoin fund, one of the first Bitcoin budgets regulated and traded on the stock exchange on a European regulated exchange.
3iQ is an investment fund manager based in Canada. The company has already obtained approval from the Ontario Securities and Commission of Exchange (OSC) and is indexed and listed on the Toronto Stock Exchange.
The Bitcoin fund seeks to provide investors with an institutional level of Bitcoin without directly possessing cryptography. Gemini acts as custodian of the Bitcoin found in the background.
Aaron Payas, spouse of the law firm Hassans in Gibraltar, and his team acted on 3iQ’s legal suggestion and prepared the registration documentation.
Nick Cowan, executive director of the Gibraltar Stock Exchange, said the announcement provides additional evidence that the cutting-edge asset categories fit the classic investment vehicles available.
Fred Pye, president and CEO of 3iQ, said:
“Finally, the sovereign wealth budget, pension budget, and many reputable monetary establishments that are limited to buying licensed, regulated, and publicly traded products now have the world’s only publicly traded bitcoin fund. Being indexed on the Gibraltar Stock Exchange extends the success in the Bitcoin Fund within the burgeoning European virtual asset market and continues the back wave that explained 3iQ’s exciting progress in the first part of 2020. »
Payas stated that the 3iQs on the Gibraltar Stock Exchange indicated that Gibraltar was continuing to exceed its weight in the context of crypto and the broader DLT space.
“At Gitbraltar, we continue to overcome the barriers by offering companies the answers and service they want to meet the demands of today’s market. It’s exciting to be concerned about the cutting edge of those advances and it’s exciting to paint with the 3iQ and GSX Team to make it happen.