3iQ Corporation who are a Canadian investment fund manager in the digital asset space, announced today that it has received a favourable ruling from its public hearing before a panel of the Ontario Securities Commission (OSC)
The Bitcoin Fund has been deemed fit by the OSC who issued a receipt for a final prospectus of the Fund, a closed-end bitcoin fund that is expected to be listed for trading on a major Canadian stock exchange.
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 said Fred Pye, President & CEO of 3iQ.
We have addressed the questions of pricing, custody, audit, and public interest issues in a regulated investment fund. We intend to refile the prospectus as soon as possible as the next step in bringing this ground breaking fund to investors
They also have VanEck on board who with SolidX recently pulled their ETF from the SEC as they managed to market to a select few funds to raise capital.
We were pleased to work closely with 3iQ in both the development of the index and in working with the regulators to address their concerns. We are obviously impressed with the determination and persistence of our Canadian partners said Jan van Eck, CEO of VanEck.
This is great news for the industry as there have been so many rejections by regulators for certain funds. Now the performance will be monitored very closely and investors will be keen to see if it can deliver.
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