On October 20, the Toronto Stock Exchange (TSX) launched trading in Canadian dollars of the Class A shares of 3iQ’s The Bitcoin Fund, ticker QBTC, according to the company’s press release.
“Canadian investors now have the ability to trade the Bitcoin Fund in the national currency and through local accounts. This eliminates the costs and time involved in currency conversion,” explained Fred Pye, president and CEO of 3iQ.
The milestone coincided with the fund’s market capitalization surpassing the notable $100 million mark. Trading of the asset in US dollars began in April this year.
The news was shared by one of the Winklevoss twins, Tyler. Their company Gemini Trust serves as custodian of the fund’s crypto assets.
Big Milestone. The #Bitcoin Fund by @3iq_corp that trades publicly on the Toronto Stock Exchange under $QBTC.U, just passed the $100 a. million mark. Onward!
— Tyler Winklevoss (@tylerwinklevoss) October 21, 2020
Since its inception on April 9, 2020, the fund’s net asset value (NAV) has risen from $9.24 to $14.42.
The Bitcoin price benchmark index for the fund was developed by MV Index Solutions, a subsidiary of investment firm VanEck.
Earlier, 3iQ received preliminary approval from the Ontario Securities Commission (OSC) to launch a retail bitcoin fund for retail investors in October 2019.
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