The bitcoin fund from Canada’s 3iq Corp (QBTC.U), that was listed on the TSX (Toronto Stock Exchange), has recently surpassed CA$1 billion (US$785 million) in market capitalization.
Canada is in the list of countries that allow the utilization of digital currencies including different cryptocurrencies. However, Cryptocurrencies are not considered a legal tender as per the Government Officials.
Being the first bitcoin fund listed in Canada, 3iq Corp spent almost three years in dialogue with the Ontario Securities Commission before getting an endorsement for the fund.
The Gibraltar Stock Exchange-listed 3iq Corp closed-end fund in September, five months after its listing in Toronto.
Arxnovum Investments Inc. filed documents for “Arxnovum Bitcoin ETF” on Monday, implementing a listing on the Toronto Stock Exchange using the ticker “BIT.U.”
The CEO of Arxnovum Investments and former CIO of 3iq Corp, Mr Shaun Cumby, was the person behind the launch of QBTC.U.
As per this story, we can determine Canada’s 3iQ’s bitcoin funds esteem high in the stock exchange and most importantly they step-up incentive to push the cryptocurrency market up and Canada doing it effectively.