Canada’s first public Bitcoin fund hits $100M mark

Canadian digital asset supervisor 3iQ has recorded a big milestone fo its public Bitcoin (BTC) fund.

The Bitcoin Fund — Canada’s first Bitcoin fund listed on a big stock alternate — has crossed the $100 million market cap threshold, 3iQ launched in an Oct. 20 tweet.

Tyler Winklevoss, a big cryptocurrency investor and a co-founder of United States’ Gemini crypto alternate, congratulated 3iQ on the milestone.

Giant Milestone. The #Bitcoin Fund by @3iq_corp that trades publicly on the Toronto Stock Commerce beneath $QBTC.U, merely handed the $100 million mark. Onward!

— Tyler Winklevoss (@tylerwinklevoss) October 21, 2020

As beforehand reported, 3iQ launched its Bitcoin fund in April 2020, itemizing the Bitcoin Fund’s shares (QBTC.U) on the Toronto Stock Commerce. On the launch, the Bitcoin Fund listed virtually 1.5 million Class A shares on the alternate.

Along side a model new market cap milestone, the Bitcoin Fund’s shares have seen necessary progress since its launch. At publishing time, QBTC.U is shopping for and promoting at $15.80, up about 30% from $11 when it was listed in April.

On the launch, Winklevoss claimed that it was the “first public Bitcoin fund listed on a big stock alternate.” Winklevoss’s Gemini alternate is providing crypto custodian corporations for the Bitcoin Fund.

In January 2018, 3iQ reportedly became the first crypto fund regulated by the Ontario Securities Price and the Canadian Securities Administrators.

Gemini seems fastidiously tied to Canada’s cryptocurrency markest. Wealthsimple Crypto, the first regulated cryptocurrency alternate in Canada, launched shopping for and promoting with custodial assist from Gemini in September 2020. Working as a regulated digital international cash alternate and custodian throughout the U.S., Gemini listed the Canadian dollar in August 2020.