Home
News
- Canada’s largest fund manager hopes to raise $200 million
- A process on to list its Bitcoin exchange-traded fund in Dubai
- Move to assess market round the clock
The cryptocurrency scene is getting hotter, and many prominent fund managers are getting into the act. The latest is 3iQ Corp, a major digital-asset investment fund manager from Canada. The group is hoping to raise more than $200 million by listing its Bitcoin exchange-traded fund in Dubai.
3iQ Corp. gets regulatory approval for Dual listing
Bloomberg reports that Canada’s largest 3iQ Corp. plans to raise $200 million by listing its Bitcoin exchange-traded fund in Dubai. One of the reasons for listing on Nasdaq Dubai is to trading hours round the clock as per CEO Fred Pye. According to Pye, the market times in North America and Dubai are diagrammatically opposite, and the measure will give the ability to trade round the clock.
Founded in 2012, the Canadian fund major has over $1.5 billion. 3iQ Coinshare Bitcoin ETF listed in Toronto Stock Exchange will soon become the first cryptocurrency fund to go public in the Middle East. The listing is to be managed by Dubai-based Dalma Capital Management Ltd. The shares are expected to be traded in the second quarter. Pye also revealed that the company is in talks with exchanges in Singapore, Taiwan, Sweden, and the United States to list the Bitcoin Fund.
Bitcoin value expected to surge in coming years
Bloomberg quoting Pye further revealed that the Canadian giants would also cooperate with the banks in UAE and other smaller entities and lenders in the region. Bitcoin was going big guns and even surged past the $63,000 mark earlier this month, its highest ever before it fell. However, Pye is confident that it will surge beyond the magical mark of $100,000 in the coming three years based on solid demand and supply scarcity.
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.
