Nasdaq Dubai launches 3iQ Bitcoin fund trading

Canada’s largest digital asset investment fund management company 3iQ is currently listing its public Bitcoin (Bitcoin) A fund in a major market in the Middle East.

3iQ roll out According to the exchange’s official statement, its Bitcoin Fund (QBTC) is traded on Nasdaq Dubai. The transaction goes live at 10:00 am Dubai time on Wednesday.

The new listing marks the emergence of the first index-based digital asset fund in the Middle East. Previously, 3iQ Chairman and CEO Frederick Pye (Frederick Pye) Say. Pye is optimistic about the price of BTC and predicts that it will hit a record high in 2021:

“I believe that regardless of whether it happens this year or not, Bitcoin will hit a record high. Yesterday’s Bitcoin closed at $32,000 per unit, and it opened at $34,000 this morning, so the price of Bitcoin has risen by about 5% since yesterday. I hope we can achieve good results on the first day of Nasdaq in Dubai.”

related: Bitcoin ETF from 3iQ and CoinShares goes live in Canada

3iQ obtained the regulatory approval for the dual listing of Bitcoin funds on Nasdaq Dubai in April 2021, and plans to start trading in the second quarter. Pye said the company is also negotiating with other exchanges in Singapore, Taiwan, Sweden and the United States to list the fund.

The company is one of the largest cryptocurrency companies in became In January 2018, the first crypto fund regulated by the Ontario Securities Commission and Canadian Securities Regulatory Agency. In 2020, 3iQ is the first Canadian company Launch of a public Bitcoin fund On the Toronto Stock Exchange.