Canada’s first bitcoin fund QBTC exceeds $1 billion in assets under management

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[Blockchain Today Reporter Park Yohan] Canadian digital asset investment fund 3iQ’s Bitcoin QBTC fund has risen 900% since October 2020, exceeding the total value of $1 billion.

3iQ announced on Twitter on the 14th (local time) that the Bitcoin Fund (QBTC) has surpassed $1 billion. QBTC was launched in April 2020 and rose 900% after hitting $100 million in October of the same year.

3iQ’s QBTC is Canada’s first Bitcoin fund listed on the Toronto Stock Exchange, one of the world’s leading stock markets. 3iQ’s QBTC management service is provided by Cameron and Tyler Winklevoss’ Gemini.

QBTC.U was $11 at the time of listing in April 2020, and jumped 330% to $48.63 at the time of local announcement on the 14th.

3iQ is one of Canada’s largest cryptocurrency companies. In January 2018, 3iQ became the first cryptocurrency fund approved by the Canadian Securities and Exchange Commission. In addition, in February of last year, it signed a partnership relationship with Mavennet, a blockchain startup, to issue stablecoins.

Shaun Cumby, a former executive at 3iQ, is now the CEO of Arxnovum. Axnovum has also applied for a bitcoin fund to OSC. Winkleboss Gemini will provide management services for the Axnovum Bitcoin ETF.

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