$200 million ‘Bitcoin Fund’ receives approval for listing on Nasdaq Dubai

The Fund, which was established in May 2017 to provide a platform for investors who wished to invest in digital assets and blockchain technology through the Sohar Exchange, is expected to commence trading on Nasdaq Dubai.

The “3iq bitcoin fund” is a company that has been approved for listing on the Nasdaq Dubai. The company will be able to raise up to $200 million through an initial public offering (IPO).

The Dubai Financial Services Authority (DFSA) has approved the Bitcoin Fund’s At-the-Market program on Nasdaq Dubai, making it the Middle East’s first listed digital asset-based fund.

Investor demand from the Middle East is increasing.

Following the clearance of the offering, The Bitcoin Fund will be able to list up to $200 million in units on Nasdaq Dubai, allowing the Middle East’s first listed digital asset product to meet the rising demand from regional institutional investors.

“We are delighted to have gotten the DFSA’s permission for the ATM program. We’ve noticed an increase in demand from significant regional institutional investors since we launched The Bitcoin Fund on the Nasdaq Dubai. “We think that being able to execute considerably bigger sale offers will help us build the fund in the area,” said Frederick Pye, Chairman and CEO of 3iQ Digital Asset Management.

Bitcoin has been on a price rise since June, reaching a fresh all-time high of $66,000 earlier this week. The world’s most popular digital asset continues to outperform expectations, thanks to a new phase of institutional adoption and increasing interest from regular investors.

Bitcoin has seen exceptional growth as a digital asset, and the Nasdaq Dubai fund provides regional investors with once-in-a-lifetime access to the world’s biggest digital asset through a regulated medium that they are acquainted with.

“At the time of the Middle East launch, the price of Bitcoin was about $33,000, which we believed was a terrific entry point into the market for our Middle Eastern investors,” Pye said.

Inter-tradeable Bitcoin fund with a Canadian listing 

The Bitcoin Fund’s trading is fully interchangeable between the Toronto Stock Exchange and Nasdaq Dubai, meaning that the assets are of equivalent value, and as an exchange-listed fund, it enables investors to buy and sell with simplicity and convenience, providing for genuine ease of access. 

The Bitcoin Fund will be open to all types of investors, including institutional and retail. Canaccord Genuity and Dalma Capital have been named joint-lead arrangers for the Fund’s regional offering. BHM Capital has also been named the Liquidity Provider for the Fund.

Bitcoin has risen to become the world’s most valuable digital currency, with a price top of $66,000 in October. 

For the first time in the area, the Bitcoin Fund provides titled, auditable ownership of Bitcoin via a regular investment vehicle, enabling for a publicly stated method for exposure to an asset class that has shown remarkable gain over the last decade.

Gain a competitive advantage in the cryptoasset market.

As a premium Edge member, you’ll get additional crypto insights and context in every story.

Analyses of the whole chain

Snapshots of prices

a little more context

For just $19 a month, you can become a member right now. Examine all of the advantages.

$200 million ‘Bitcoin Fund’ receives approval for listing on Nasdaq Dubai

Like what you’ve seen so far? Stay up to date by subscribing.

The “billionaires on bitcoin” is a new fund that was approved for listing on the Nasdaq Dubai. The fund will be trading under the symbol “GBTC.” This will give investors access to Bitcoin without having to buy coins themselves.

Related Tags

  • bitcoin fund nasdaq dubai
  • dubai bitcoin fund
  • bitcoin price
  • dubai bitcoin conference
  • bitcoin billionaire south indian

Latest News

What is GATE? How Do You Buy GATE?

Can I use credit card on gate io? Gate.io's Support Center Users may buy digital currencies using US dollars (USD), Euros (EUR), and British pounds...

What is Juventus Fan Token? How Do You Buy JUV?

Similarly, What is Juventus fan token? The Juventus Fan Token (JUV) is a utility token that uses the Socios application and services to provide Juventus...

What is RING X PLATFORM? How Do You Buy RINGX?

But then this question also arises, Is hamster coin on Coinbase? Coinbase does not support BABY WHITE HAMSTER. What platform does Coinbase use? Coinbase customers may trade...

What is Metaverse ETP? How Do You Buy ETP?

What is metaverse ETP? On the Metaverse blockchain network, Metaverse ETP is utilized to value or collateralize smart contracts. It's also used to pay for...

Related articles