Gemini-Backed 3iQ Bitcoin Fund Set To Launch In Canada

Law360 (October 31, 2019, 11:08 PM EDT) -- An Ontario regulator gave Canadian fund manager 3iQ the green light to launch its Bitcoin Fund for trading later this quarter, with Gemini Trust Company serving as Bitcoin custodian.

3iQ said Wednesday it had received a "favorable ruling" from the Ontario Securities Commission for its closed-end Bitcoin Fund, allowing it to be listed on a "major" stock exchange in Canada. The offering is backed by two American companies, including crypto asset company Gemini, which will serve as the custodian of the underlying Bitcoin. Index provider VanEck MV has also supported the Bitcoin Fund project, working with 3iQ over the past three years,...

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