Canadian Firm 3iQ’s Bitcoin Fund Listed on Gibraltar Stock Exchange

The Gibraltar Stock Exchange said Tuesday that it listed a new bitcoin fund belonging to 3iQ Corp, a Canadian investment fund manager that focuses on new technologies and crypto assets.

The announcement follows GSX Group’s recent launch of what it calls the Grid, “a venue to create and deploy debt securities, funds, and equities as ‘smart securities’ in tokenised form”. GSX is the parent company of the Gibraltar Stock Exchange.

According to the exchange, the newly listed fund tracks the price of bitcoin by using a special index feed, which was developed by crypto market data provider Cryptocompare and Vaneck Europe, an asset management firm.

3iQ’s regulated BTC fund is already being traded on the Toronto Stock Exchange since April, but this is the first time it will be entering European shores. The exchange-traded fund aims to provide retail investors with “access to bitcoin without the burden of buying and safekeeping coins,” said the company in a statement shared with news.Bitcoin.com.

U.S. crypto exchange Gemini is providing custody to the bitcoin held in the fund. 3iQ already manages two private investment funds: 3iQ bitcoin trust and the 3iQ global crypto asset fund.

Nick Cowan, chief executive officer of the Gibraltar Stock Exchange, noted that the listing of “innovative asset classes” such as the bitcoin ETF will “in turn lead to increased adoption”.

Fred Pye, president, and CEO of 3iQ said the Gibraltar listing gives financial players such as sovereign wealth funds and pension funds, which face restrictions in buying licensed, regulated exchange-listed products, access to those instruments. He added:

Being listed on the Gibraltar Stock Exchange extends the reach of the bitcoin fund within the burgeoning European digital assets market.

Gibraltar, a British Overseas Territory on Spain’s south coast, has emerged as one of the most crypto-friendly countries in the world, with notable global platforms such as Etoro, Huobi, Xapo, and Bitso operating from there.

Two weeks ago, the country’s Financial Services Commission updated its guidance notes for distributed ledger technology providers to include recommendations for risk management, as well as clarify aspects around the issuance of digital assets.

What do you think about the 3iQ bitcoin fund being listed in Europe? Share your thoughts in the comments section below.

The post Canadian Firm 3iQ’s Bitcoin Fund Listed on Gibraltar Stock Exchange appeared first on Bitcoin News.

source https://news.bitcoin.com/canadian-firm-3iqs-bitcoin-fund-listed-on-gibraltar-stock-exchange/

Komentar

Postingan populer dari blog ini

Spanish Treasury Secretary Says Cryptocurrencies Carry a ‘Risk of Default’, Repeats Bank of Spain’s Lack of Regulation Rhetoric

The government of Spain continues to harden its stance against widely adopting cryptocurrencies. The Spanish Secretary of State for the Economy recently expressed her concerns on risks that she thinks cryptos possess for the national economy. Secretary Doesn’t Like Bitcoin as It Cannot Be ‘Supervised or Sanctioned’ During the Online Fintech Summit 2021 , Ana de la Cueva said that cryptocurrencies such as bitcoin ( BTC ) carry “a risk of default, given that the user does not have the protection offered by traditional payment systems against a default by the counterparty.” In fact, the Secretary blasted off on the lack of a “centralized guarantee system” in bitcoin. Interestingly, at the beginning of her speech, De La Cueva mentioned that the cryptocurrency’s technology is based on blockchain. However, she later pointed out that there is no standard “clarity” on the nature of bitcoin. The Secretary repeated the same rhetoric of Spanish state entities on crypto assets, saying that th...

Baca selengkapnya

Barry Silbert Resigns as Chairman of Grayscale Investments

Digital Currency Group (DCG) founder Barry Silbert has resigned from his position as the chairman of Grayscale Investments. Current DCG chief financial officer Mark Shifke succeeds Silbert and is joined by Edward McGee and Matthew Kummell as members of the new look board. Preparing for Grayscale’s Next Chapter Barry Silbert, the founder and CEO of Digital Currency Group, has resigned from his position as chairman of the digital asset management company Grayscale and will be replaced by Mark Shifke. According to the company’s filing with the Securities and Exchange Commission (SEC), starting Jan. 1, 2024, Grayscale’s board will be composed of Mark Shifke, Matthew Kummell, and Edward McGee. Current Grayscale Investments CEO Michael Sonnenshein is also a board member, while Mark Murphy, the president of Digital Currency Group (DCG), departs alongside Silbert. Commenting on the changes to the board, an unidentified Grayscale spokeswoman reportedly said: “Grayscale and our investors ...

Baca selengkapnya

48 US Lawmakers Ask SEC Chair Gensler to Clarify Whether ETH Is a Security — Warn of ‘Negative Repercussions’

Forty-eight U.S. lawmakers have sent a letter to U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler asking him to clarify whether ether is a security. “The negative repercussions of the SEC implicitly or directly classifying ETH as a digital asset security will cascade throughout the digital asset marketplace both in the short and long […] source https://news.bitcoin.com/48-us-lawmakers-ask-sec-chair-gensler-to-clarify-whether-eth-is-a-security-warn-of-negative-repercussions/

Baca selengkapnya

Crypto Account Manager

Cari Blog Ini