Nasdaq Dubai has listed the MENA region’s first digital asset-based fund, The Bitcoin Fund, on Wednesday. The fund was listed by 3iQ, Canada’s largest digital asset investment fund manager.
The fund offers investors an indirect exposure to Bitcoin and the opportunity for long-term capital appreciation through an alternative to a direct investment in the crypto currency, the company said.
Investors will be able transfer units of the fund from the Toronto Stock Exchange to Nasdaq Dubai.
Frederick Pye, chairman and CEO of 3iQ Corp, said: “Our expansion into the Middle East is now official as The Bitcoin Fund has been listed on Nasdaq Dubai as of today.
“When we launched the fund in Toronto last year, an expansion into the Middle East was always in the plans and we are extremely proud to have achieved that milestone here today in Dubai. We believe that The Bitcoin Fund is poised to offer tremendous value to regional investors looking to diversify their portfolio with this asset class through a regulated listing.”
Hamed Ali, CEO of Nasdaq Dubai and deputy CEO of DFM, said: “We are delighted that 3iQ has chosen the robust regulatory framework and enhanced regulations and infrastructure of Nasdaq Dubai as the listing venue for its Bitcoin Fund.
(Reporting by Imogen Lillywhite; editing by Seban Scaria)
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