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Canadian Investment Firm 3iQ Files Prospectus for Bitcoin Fund



A Canadian Investment firm 3iQ filed a prospectus for Bitcoin Funds with hopes to attract retail investors with a regulated digital asset fund. The firm announced that it had filed a preliminary prospectus for a close-end Bitcoin fund; that it anticipates to unveil through the Toronto Stock Exchange later in the year. Fred Pye, the Chief Executive of the firm wrote: :
“We expect to list on the Toronto Stock Exchange in late December or early January. As a part of our next steps, we’re hoping to get Canada’s big banks on board. We’re hoping that two or three of Canada’s biggest banks, specifically ones that want to lead in fin-tech space, will join the syndicate group.”

The Canadian investment funds manager revealed that they filed the Bitcoin fund prospectus regards to an Initial Public offering of both Class A and Class F units each at $10. Pye, a former senior vice president of Fidelity Investments -Canada; highlighted that retail investors have been showing a massive amount of enthusiasm for the 3iQ Bitcoin find. Meanwhile, the investment will also be eligible for retirement savings plans and tax-free savings accounts whose members have registered in Canada. 

3iQ appealed a negative ruling by Canada’s markets regulator 


Earlier this year, Ontario Securities Commission ruled against 3iQ Bitcoin Fund proposal. Nonetheless, the firm went on to make an appeal to the decision, which it eventually won. Hence, receiving Canada’s markets regulator approval to launch a regulated bitcoin Fnd. At the time, Pye stated

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