Canadian fund manager, 3iQ Corp. in a blog post, revealed that they received a green light from the Ontario Securities Commission [OSC] in regards to its application for bitcoin fund. Fred Pye, President & CEO of 3iQ.said, “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.”
According to the post, the company had support from its partners over the past three years, including the development of an innovative bitcoin benchmark from VanEck’s MV Index Solutions, which is a regulated index provider and leader in developing indices and data series.
Howard Atkinson, Chairman of 3iQ, said that they look forward to offering retail investors exposure to this exciting new asset class within registered and traditional investment accounts. Winklevoss twins’ company Gemini would be the custodian of the Bitcoin in the fund. Cameron Winklevoss said that 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 they are excited to be selected as their custodian.