Canadian investment firm 3iQ has listed an exchange-traded fund tied to the value of Bitcoin on the TSX, giving investors a unique opportunity
CaIn big news for Canadian stock market investors, investment management fund 3iQ has begun trading shares of their new exchange-traded Bitcoin asset, “The Bitcoin Fund”, on the Toronto Stock Exchange (TSX). As of April 9th, 2020, Canadian investors now have a legitimate exchange-traded product (ETP) to gain exposure to the speculative value of Bitcoin, without having to purchase and store the volatile digital asset directly.
The Bitcoin Fund (TSX: QBTC.U) tracks the BTC price using a realtime index feed developed in part by ETF / Mutual Fund behemoth VanEck. The fund is a sophisticated financial asset, comparable to the more traditional ETPs that track commodities such as gold, oil, and other precious metals currently underpinning VanEck’s large portfolio of products. 3iQ has spent over three years working alongside the Ontario Securities Commission in an effort to develop a product that could help bring BTC exposure to the TSX in a manner robust enough to comply with stringent regulations. The successful listing of the Bitcoin Fund marks a watershed moment for BTC investment in Canada.
Opening Doors to New Institutional and Traditional Investors
While the majority of BTC investors are still “direct-investors” in Canada, the advent of the Bitcoin Fund opens the door to a new world of institutional and traditional investors. By creating an ETP such as the Bitcoin Fund, 3iQ and VanEck have lent an unparalleled level of credibility to Bitcoin investment in Canada, inspiring investors to view the Bitcoin asset as a worthy consideration for diversified stock portfolios. In a recent interview with CoinTelegraph, venture-capitalist and cryptocurrency-mogul Cameron Winklevoss had this to say:
Now, any investor can get exposure to Bitcoin on…