A Remarkable Achievement for 3iQ

On January 14, Canadian regulated digital asset manager 3iQ announced an impressive milestone: their public Bitcoin Fund, QBTC, has surged past the $1 billion mark. This astronomical growth illustrates the fund’s skyrocketing journey since its launch in April 2020.

The Growth Trajectory of QBTC

Since its inception, QBTC has enjoyed substantial acclaim, witnessing an astronomical increase of 900% from its previous milestone of $100 million, which was recorded in October 2020. It’s like watching your childhood lemonade stand evolve into an international beverage empire!

How QBTC Stands Out

What’s particularly noteworthy is that QBTC is hailed as Canada’s first public Bitcoin fund available on a major stock exchange—the illustrious Toronto Stock Exchange. This pivotal designation not only provides accessibility for investors but also adds a layer of legitimacy to the burgeoning crypto market in Canada.

Trading Performance

As of now, QBTC.U is trading at an impressive $48.63, a staggering increase of 330% from its initial listing price of $11 in April 2020. Talk about a rollercoaster ride for investors! If this were a game of Monopoly, they’d have gotten Boardwalk with a hotel on it.

3iQ’s Regulatory Trailblazing

3iQ has proven to be a pioneer in the crypto space, notably becoming the first cryptocurrency fund to receive regulation approval from the Ontario Securities Commission and the Canadian Securities Administrators in January 2018. They didn’t just dip their toes in the water; they cannonballed right in!

Upcoming Innovations

In a move to further diversify the investment landscape, 3iQ has partnered with Mavennet, a blockchain startup, to launch a stablecoin pegged to the Canadian dollar, regulated by the Financial Transactions and Reports Analysis Centre of Canada. Meanwhile, former executive Shaun Cumby is now steering Arxnovum, which has recently filed an application for a Bitcoin exchange-traded fund, also under the watchful eye of Gemini for custody services.