Ontario Securities Commission Panel rules in favor of 3iQ’s “the Bitcoin Fund”

BusinessWire confirms that Canadian investment fund manager focused on disruptive technologies and the digital asset space, 3iQ Corp., has received a positive ruling from its public hearing from the Ontario Securities Commission (OSC) in regards to The Bitcoin Fund (the Fund).

“Over the past three years, we have worked actively with the OSC’s Investment Funds and Structured Products Branch to create an investment fund that we hope will allow retail investors the benefits of investing in bitcoin through a regulated, listed fund,” said Fred Pye, President & CEO of 3iQ. “We have addressed the questions of pricing, custody, audit, and public interest issues in a regulated investment fund. We intend to refile the prospectus as soon as possible as the next step in bringing this ground breaking fund to investors.”

“We look forward to offering retail investors exposure to this exciting new asset class within registered and traditional investment accounts” said Howard Atkinson, Chairman of 3iQ. “The performance and professionalism of our legal team at Osler and our audit team from Raymond Chabot Grant Thornton (RCGT) was critical to getting support from the panel.”

3iQ has also received support from its partners including VanEck’s MV Index Solutions, a regulated index provider and leader in developing cryptocurrency indices and data series.

“We were pleased to work closely with 3iQ in both the development of the index and in working with the regulators to address their concerns. We are obviously impressed with the determination and persistence of our Canadian partners,” said Jan van Eck, CEO of VanEck.

New York based cryptocurrency exchange and trust company, Gemini Trust Company LLC, will be the custodian of the fund. “We are pleased to have selected Gemini as our digital asset custody solution in partnership with the Cidel Trust Company. The exceptional support from their teams has helped our Bitcoin Fund become a reality,” said Shaun Cumby, Chief Investment Officer of 3iQ.

“3iQ has carefully selected a team of professional partners with expertise in the digital asset industry to construct a safe and secure fund product for the Canadian market, and we are excited to be selected as their custodian,” said Cameron Winklevoss, President of Gemini. “As a New York Trust company we are required to store digital assets in a trusted, safe and compliant manner and will employ those principles to help 3iQ manage this innovative fund.”

News Desk

Unlock News Desk, is a group of Blockchain and Crypto enthusiastic young people, working to keep Unlock readers up to date with the industry news. Connect with the team via email: info(@)unlock-bc.com

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