Crypto News

Canada’s first public Bitcoin fund hits $1 billion

3iQ’s Bitcoin QBTC fund has surged 900% in market cap since October 2020, breaking a $1 billion milestone.

Canadian regulated digital asset manager 3iQ has recorded another massive milestone of its public Bitcoin (BTC) fund.

On Jan. 14, 3iQ’s Bitcoin Fund (QBTC) hit the $1 billion mark, the company announced on Twitter. The new milestone demonstrates QBTC’s parabolic growth after 3iQ launched the fund in April 2020. QBTC is now up 900% from its previous milestone of $100,000 recorded in October 2020.

As previously reported, 3iQ’s QBTC is Canada’s first public Bitcoin fund listed on a major stock exchange, the Toronto Stock Exchange. Cameron and Tyler Winklevoss’ Gemini provides custody services for 3iQ’s QBTC.

At publishing time, QBTC.U is trading at $48.63, up 330% from $11 when it was listed in April.

3iQ is apparently one of the largest cryptocurrency firms in Canada. In January 2018, 3iQ reportedly became the first crypto fund regulated by the Ontario Securities Commission and the Canadian Securities Administrators. In February 2020, 3iQ also partnered with blockchain startup Mavennet to launch a stablecoin pegged to the Canadian dollar that will be regulated by the Financial Transactions and Reports Analysis Centre of Canada.

3iQ’s former senior executive Shaun Cumby is now also the CEO of Arxnovum, a company that on Jan. 11 filed an application with OSC for a Bitcoin exchange-traded fund. Winklevoss’ Gemini will also provide its custody for the Arxnovum’s Bitcoin ETF.

How useful was this post?

Click on a star to rate it!

As you found this post useful...

Follow us on social media!

Disclaimer: The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of CoinChapter and CoinChapter does not assume any responsibility or liability for the same.

(This story has not been edited by CoinChapter staff and is auto-generated from a syndicated feed.)
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Digital Asset Manager 3iQ’s Bitcoin Fund...
1 month ago

[…] Read the full story here. […]

CoinChapter

Founded in 2015, Coinchapter.com has become one of the leading resources for the crypto asset community. Created by a small group of cryptocurrency enthusiasts, Coinchapter.com was built to provide new members of the crypto asset community with unbiased listings of cryptocurrency exchanges and retail options that would allow them to buy the crypto assets that they wanted, how they wanted and at the price they wanted.

Related Crypto News

Bitcoin Price Surges After U.S. Senate Passes Stimulus Bill
The price of Bitcoin surged 4% to $51,000 on Sunday after the United States Senate passed the expected $1.9...
Kraken CEO: SEC’s Case Against Ripple Could Hurt Crypto Exchanges
Kraken CEO and co-founder Jesse Powell is concerned that the U.S. Securities and Exchange Commission’s (SEC) case against Ripple...
Aker Launches Seetee To Invest in Bitcoin, Blockchain Projects
Aker announced it has launched a new company called Seetee that is dedicated to investing in Bitcoin and blockchain...
Ethereum Analysis: Rising Wedge Casts Doubts Over Bullish Bias Viability
Ethereum surged ahead of the New York opening bell, locking steps with its top rival Bitcoin after staying in...
Yearn Finance Breaks Off Merger With Cover
Decentralized Finance protocols Yearn Finance and Cover Protocol announced the end of their protocol merger. “We have decided to...
John McAfee Indicted On Fraud & Money Laundering Charges For ‘Pump And Dump’ Scheme
John McAfee and his executive adviser Jimmy Gale Watson Jr. have been charged with securities fraud. Federal prosecutors believe...

Featured Crypto News

Bitcoin Price Surges After U.S. Senate Passes Stimulus Bill
The price of Bitcoin surged 4% to $51,000 on Sunday after the United States Senate passed the expected $1.9...
Kraken CEO: SEC’s Case Against Ripple Could Hurt Crypto Exchanges
Kraken CEO and co-founder Jesse Powell is concerned that the U.S. Securities and Exchange Commission’s (SEC) case against Ripple...
Aker Launches Seetee To Invest in Bitcoin, Blockchain Projects
Aker announced it has launched a new company called Seetee that is dedicated to investing in Bitcoin and blockchain...
Ethereum Analysis: Rising Wedge Casts Doubts Over Bullish Bias Viability
Ethereum surged ahead of the New York opening bell, locking steps with its top rival Bitcoin after staying in...
Yearn Finance Breaks Off Merger With Cover
Decentralized Finance protocols Yearn Finance and Cover Protocol announced the end of their protocol merger. “We have decided to...
John McAfee Indicted On Fraud & Money Laundering Charges For ‘Pump And Dump’ Scheme
John McAfee and his executive adviser Jimmy Gale Watson Jr. have been charged with securities fraud. Federal prosecutors believe...