Detailed price information for 3iQ Bitcoin Trust (CADFUNDS: FBCBT.CF) from The Globe and Mail including charting and trades
The fund seeks exposure to digital currency bitcoin and the opportunity for long-term capital appreciation. 3iQ Corp does not verify any data and disclaims any obligation to do so. Consequently, The Bitcoin Fund now has 1,491,800 outstanding class A units representing the total asset of approximately US$14 million. The company manages The Bitcoin Fund (TSX:QBTC.U) and the 3iQ Global Cryptoasset Fund. ‘The Bitcoin Fund’ has taken three years to overcome legal complications but finally listed for almost 1.5 million Class A ‘QBTC.U’ shares on TSX yesterday, and are currently trading for around USD 11 each. 'The Bitcoin Fund' just launched on the Toronto Stock Exchange. 3iQ is a Canadian investment fund manager focused on providing investors with exposure to digital assets. All Rights Reserved.Founded in 2012, 3iQ is a Canadian investment fund manager focused on providing investors with exposure to digital assets.The decision stands in contrast to the US Securities and Exchange Commission’s decision not to approve the listing of a Bitcoin-based exchange-traded product (ETP). The Bitcoin Fund, managed by 3iq, has completed an initial public offering and has begun trading on the Toronto Stock Exchange (TSX). [OSC] Staff had not demonstrated that:© 2020 Crowded Media Group.
The Toronto Stock Exchange (TSX), a wholly owned subsidiary of the TMX Group, is Canada’s largest stock exchange and the world’s 9th largest exchange by market capitalization.
At least part of the SEC’s concern was due to allegations of price manipulation of the world’s most popular digital currency.
The class A units are available to all investors, the fund’s prospectus notes. The Bitcoin Fund’s prospectus details that its bitcoin will be valued based on the MVIS Cryptocompare Institutional Bitcoin Index (MVBTC), which is maintained by MV Index Solutions GmbH (MVIS).The class A units will commence trading today on the Toronto Stock Exchange under the symbol QBTC.U.Cryptocompare independently announced on Thursday that the MVIS Cryptocompare Institutional Bitcoin Index has been licensed to 3iq Corp. for The Bitcoin Fund. Market price reflects the closing price of The Bitcoin Fund on the TSX under the symbol QBTC.U as at 4PM ET. The Fund was the product of an initial public offering (IPO) of units and a merger with 3iQ Bitcoin Trust. A closed-end fund that aims to provide investors with exposure to bitcoin in a regulated asset class has listed on the Toronto Stock Exchange (TSX). It has been a long road for 3iq and The Bitcoin Fund since their filing was first rejected. 3iQ Corp. (“3iQ”) is pleased to announce that a preliminary base PREP prospectus for a new issue of Class A Units and Class F Units (the “Units”) of The Bitcoin Fund (the “Offering”) has been filed. After a hearing, a commissioner with the Ontario Securities Commission ruled in their favor.
3iq, which acts as the investment manager and portfolio manager of the fund, elaborated just before trading began:Get Bitcoin News stories in TelegramFounded in 2012, 3iq currently focuses on digital assets, disruptive technologies and the blockchain space. This index intends to provide investors with a means to track the performance of bitcoin on selected top exchanges, including Binance, Bitflyer, Bitstamp, Coinbase, Gemini, Itbit, and Kraken, Cryptocompare described.Canadian investment fund manager 3iq Corp. announced on Thursday that The Bitcoin Fund has completed an initial public offering (IPO) and merged with 3iq Bitcoin Trust. 3iQ manages the TSX-listed Bitcoin Fund, QBTC.U as well as a private fund, the 3iQ Global Cryptoasset Fund.
Description The Bitcoin Fund is a closed-end fund incorporated in Canada. The Fund will invest in long-term holdings of bitcoin to provide investors with a convenient alternative to a direct investment in bitcoin. Last week, 3iQ Corp. successfully commenced trading of The Bitcoin Fund (TSX:QBTC.U).