RATE Group | Canadian Markets Regulator Gives 3iQ Green Light to Offer Bitcoin Fund
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Canadian Markets Regulator Gives 3iQ Green Light to Offer Bitcoin Fund

31 Oct Canadian Markets Regulator Gives 3iQ Green Light to Offer Bitcoin Fund

Posted at 01:29h in Bitcoin News by

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Canadian investment fund manager 3iQ will now be able to offer Canadian retail investors a regulated, publicly-traded Bitcoin (BTC) fund.

Bitcoin fund available to retail investors by end of year

In an Oct. 30 press release, 3iQ announced that it had received a favorable ruling from the Ontario Securities Commission (OSC) in regard to its closed-end Bitcoin fund, which is expected to be available on a major Canadian stock exchange by the end of the year.

In February, Canada’s markets regulator ruled negatively on 3iQ’s proposal to launch its regulated Bitcoin fund. However, the Toronto-based 3iQ appealed the decision and ultimately won approval from the OCS to launch its BTC fund. 3iQ chief executive Fred Pye said:

“Over the past three years, we have worked actively with the OSC’s Investment Funds and Structured Products Branch to create an investment fund that we hope will allow retail investors the benefits of investing in Bitcoin through a regulated, listed fund.”

Pye, who…

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