3iQ, the Canadian digital asset management firm, has been given the green light from regulators to list its $1.5 billion Bitcoin Fund on Nasdaq Dubai.
The fund debuted on the Toronto Stock Exchange in 2020 and the dual listing will make it the first cryptocurrency ETF in the Mena market.
According to 3iQ, the fund will start trading in the second quarter of 2021 and the hope is to double its assets under management by the end of the year.
“We believe that this is the opportune moment to expand this unique investment opportunity into the Middle East region,” said Fred Pye, chairman and chief executive at 3iQ.
The firm is also in talks with exchanges in the US, Taiwan, Sweden and Singapore about listing the Bitcoin Fund.
Dubai-based alternative investment manager Dalma Capital has been appointed as the syndicate manager for the Nasdaq Dubai listing.
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