Canadian digital asset manager 3iQ marks a major milestone in the Bitcoin public fund (BTC).
Bitcoin Fund – the first Canadian bitcoin fund to be listed on a major exchange – has crossed the $ 100 million threshold, 3iQ reported in a tweet on October 20.
Tyler Winklevoss, a major cryptocurrency investor and co-founder of the US cryptocurrency exchange Gemini, congratulated 3iQ on this achievement.
As previously reported, 3iQ launched its Bitcoin Fund in April 2020 by listing shares of Bitcoin Fund (QBTC.U) on the Toronto Stock Exchange. At the time of launch, the Bitcoin Fund had placed about 1.5 million Class A shares on the exchange.
In terms of the new market cap achievement, Bitcoin Fund shares have surged significantly since its launch. At press time, QBTC.U is trading at $ 15.80, which is an approximate increase. 30% discount for accommodation in April.
At launch, Winklevoss claimed it was “the first publicly traded bitcoin fund to be listed on a major exchange.” Winklevoss Gemini Exchange provides Crypto Depot services for Bitcoin Fund.
In January 2018, it was reported that 3iQ became the first cryptocurrency fund regulated by the Ontario Securities Commission and Canadian Securities Officials.
Gemini seems to be closely related to the Canadian cryptocurrency. Wealthsimple Crypto, the first regulated cryptocurrency exchange in Canada, launched trading under the sponsorship of Gemini in September 2020. As a regulated cryptocurrency exchange and custodian in the United States, Gemini listed the Canadian dollar in August 2020.