tcoin Fund IPO gets the Preliminary Prospectus Filed by Canadian Fund Manager 3iQ

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

Bitcoin Fund IPO gets the Preliminary Prospectus Filed by Canadian Fund Manager 3iQ

  • The firm has revealed that it will initiate it’s trading in just a couple of months, probably in late December or January 2020.
  • The next biggest exposure taken into consideration will be the daily price movements and overall price analysis of the cryptocurrency with respect to the US dollar.
  • 2018 has already witnessed several ETPs for bitcoins and other leading cryptocurrencies like Etherium, XRP and BNB.

Canadian investment fund manager 3iQ officially declares this Thursday, that it has noted the prospectus for its bitcoin fund as the next significant part of the initial public offering (IPO).

As per the reports revealed on October 30, the Ontario  Securities Commission approved the firm in launching the fund in Toronto Stock Exchange (TSX). Now the firm officially gets a good platform to start the fund launching with.

The firm has revealed that it will initiate it’s trading in a couple of months, probably in late December or January 2020. The trading will start as soon as the firm is listed on the Toronto Stock Exchange. 3iQ has already been discussing the offering for three years with the regulator.

The passionate focus of the IPO will be to provide unitholders with bitcoin exposure in terms of bundles of stock and warrants. The next biggest exposure taken into consideration will be the daily price movements and overall price analysis of the cryptocurrency to the US dollar.

Being a closed-end investment fund, the Bitcoin fund has been set up as a trust in the Ontario’s arena. The investment and portfolio related purposes will be served by 3iQ. The next interesting role will be played by New York-based cryptocurrency exchange, Gemini Trust Company LLC which is going to be the protagonist to custody bitcoin in the fund.

The firm is confident about its attempts and has claimed that the IPO would be the 

“world’s first  regulated closed-end bitcoin exchanges- traded product”

The product may have its special features but presently it’s not the only product to be termed “world’s first”  as a similar product has been launched before.

2018 has already witnessed several ETPs for bitcoins and other leading cryptocurrencies like Ethereum, XRP and BNB. The ETPs launched by Swiss Amun AG on the SIX stock exchange questions the claims by the firm on “uniqueness” but the project may have other salient features.

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