3iQ's Canadian Bitcoin Fund Hits C$1B in Market Cap
The digital asset manager passed a key milestone this week.
The bitcoin fund from Canada's 3iq Corp (TSX:QBTC.U), listed on the Toronto Stock Exchange, has reached over CA$1 billion (US$785 million) in market capitalization.
- Digital asset manager 3iq Corp's QBTC fund passed another milestone, reaching CA$1 billion in net asset value on Jan. 14.
- The first bitcoin fund listed in Canada, 3iq Corp spent three years in dialogue with the Ontario Securities Commission before it received approval for its fund.
- On Monday, Arxnovum Investments Inc. filed documents for the “Arxnovum Bitcoin ETF” applying to list on the Toronto Stock Exchange under the ticker “BIT.U.”
- Shaun Cumby, CEO of Arxnovum Investments, who previously held the position of CIO at 3iq Corp, was behind the launch of QBTC.U.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.