On 20 October, the Toronto Stock Exchange (TSX) launched trading in Canadian dollars in Class A shares of the company’s 3iQ index bitcoin fund under the ticker QBTC, according to the company’s press release.
„Investors from Canada were able to trade the bitcoin fund in local currency and through local accounts. This eliminates the cost and time of currency conversion,“ explained Fred Pai, President and CEO of 3iQ.
The event coincided with the capitalisation of The Bitcoin Fund for $100 million shares. Trading on this asset in US dollars began in April this year.
One of the Wicklvoss brothers, Tyler, shared the news. Their company Gemini Trust acts as a custodian of the Fund’s crypto assets.
Since its inception on 9 April 2020, the company’s net asset value (NAV) of the Bitcoin Fund has increased from $9.24 to $14.42.
The benchmark Bitcoin price index for the fund was developed by MV Index Solutions, a subsidiary of VanEck investment firm.
Recall that 3iQ received preliminary approval from the Ontario Securities Commission (OSC) to launch a retail investment bitcoin fund in October 2019.
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