Canadian digital asset supervisor 3iQ has recorded a serious milestone fo its public Bitcoin (BTC) fund.
The Bitcoin Fund — Canada’s first Bitcoin fund listed on a serious inventory trade — has crossed the $100 million market cap threshold, 3iQ introduced in an Oct. 20 tweet.
Tyler Winklevoss, a serious cryptocurrency investor and a co-founder of United States’ Gemini crypto trade, congratulated 3iQ on the milestone.
Huge Milestone. The #Bitcoin Fund by @3iq_corp that trades publicly on the Toronto Inventory Trade underneath $QBTC.U, simply handed the $100 million mark. Onward!
— Tyler Winklevoss (@tylerwinklevoss) October 21, 2020
As beforehand reported, 3iQ launched its Bitcoin fund in April 2020, itemizing the Bitcoin Fund’s shares (QBTC.U) on the Toronto Inventory Trade. On the launch, the Bitcoin Fund listed practically 1.5 million Class A shares on the trade.
Along with a brand new market cap milestone, the Bitcoin Fund’s shares have seen vital progress since its launch. At publishing time, QBTC.U is buying and selling at $15.80, up about 30% from $11 when it was listed in April.
On the launch, Winklevoss claimed that it was the “first public Bitcoin fund listed on a serious inventory trade.” Winklevoss’s Gemini trade is offering crypto custodian providers for the Bitcoin Fund.
In January 2018, 3iQ reportedly turned the primary crypto fund regulated by the Ontario Securities Fee and the Canadian Securities Directors.
Gemini appears carefully tied to Canada’s cryptocurrency markest. Wealthsimple Crypto, the primary regulated cryptocurrency trade in Canada, launched buying and selling with custodial assist from Gemini in September 2020. Working as a regulated digital foreign money trade and custodian within the U.S., Gemini listed the Canadian greenback in August 2020.