Canadian regulated digital asset manager 3iQ has hit another huge milestone with its public Bitcoin (BTC) fund.
On January 14, 3iQ’s Bitcoin Fund (QBTC) hit the $ 1 billion mark, the company said announced on Twitter. The new milestone shows QBTC’s parabolic growth after 3iQ launched the fund in April 2020. QBTC is now up 900% from its previous milestone of $ 100,000 registered in October 2020.
As previously reported, 3iQ’s QBTC is Canada’s first public Bitcoin fund listed on a major stock exchange, the Toronto Stock Exchange. Cameron and Tyler Winklevoss’ Gemini provides custody services for the QBTC of 3iQ.
At the time of publication, QBTC.U is trading on $ 48.63, up 330% from $ 11 when it was listed in April.
Apparently 3iQ is one of the largest cryptocurrency companies in Canada. In January 2018, 3iQ reportedly became the first crypto fund regulated by the Ontario Securities Commission and the Canadian Securities Administrators. In February 2020, 3iQ also partnered with blockchain startup Mavennet launch a stablecoin pegged to the Canadian dollar which will be regulated by the Financial Transactions and Reports Analysis Center of Canada.
Shaun Cumby, former senior executive of 3iQ, is now also the CEO of Arxnovum, a company that was founded on January 11 has submitted an application to OSC for a Bitcoin exchange-traded fund. Winklevoss’ Gemini will also provide custody of Arxnovum’s Bitcoin ETF.