The Gibraltar Stock Exchange, a subsidiary of the Global Stock Exchange (GSX) Group, has announced the listing of 3iQ’s The Bitcoin Fund, making it one of the world’s first exchange-traded Bitcoin funds on a regulated exchange.
Led by 3iQ, one of Canada’s leading investment fund managers, The Bitcoin Fund has also been approved by the Ontario Securities Commission and listed on the Toronto Stock Exchange.
The fund is designed to provide investors with institutional level access to Bitcoin without the burden of buying and custodying coins.
The Gibraltar Stock Exchange CEO, Nick Cowan, said: “Today’s announcement provides further demonstrable evidence of innovative asset classes becoming accessible through mainstream investment vehicles which in turn leads to increased adoption and we welcome 3iQ to GSX and Gibraltar.”
Fred Pye, President and CEO of 3iQ, added: “Finally, sovereign wealth funds, pension funds, and the many reputable financial institutions that are restricted to buying licenced, regulated, major exchange-listed products, now have access to the world’s only regulated, exchange-traded in Canada, publicly listed bitcoin fund.
Today’s listing of @3iq_corp's The Bitcoin fund on GSX is a great opportunity to provide institutional investors with access to alternative assets through mainstream investment vehicles. https://t.co/1nVOq71UwI pic.twitter.com/g50YkVp3F5
— Nick Cowan (@NickCowanGSX) September 29, 2020
“Being listed on the Gibraltar Stock Exchange extends the reach of The Bitcoin Fund within the burgeoning European digital assets market, and continues the groundswell of momentum that has defined 3iQ’s exciting progress during the first half of 2020.”
The sheer fact that institutional investors are now getting legitimate exposure to one scalded assets like Bitcoin demonstrates how far the asset class has come. 3iQ will use Gemini for the custodial aspect of the fund to ensure investors’ capital is safe.
“Following their recent high profile listing on the Toronto Stock Exchange, the 3iQ team are no strangers to leading the charge and successfully engineering genuine industry-first milestone moments. I’m pleased that together, we can continue this trend of extending the benefits of bitcoin and digital assets more broadly to new categories of investors.” concluded Cowan.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.