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16.11 - 09:25
Dubai finance watchdog approves listing of Bitcoin fund
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The Bitcoin Fund (QBTCu.TO), a closed-end investment vehicle based in Canada, has received regulatory approval from the Dubai Financial Services Authority. The fund debuted on Nasdaq on June 23, 2021 and became the first listed digital asset fund in the Middle East.
The fund's goal is to provide investors in the shares of the fund with exposure to Bitcoin (BTC) and the daily price changes of the U.S. dollar price of Bitcoin, as well as long-term capital appreciation. The fund is a diversified portfolio of digital assets that invests in Bitcoin and U.S. dollar-denominated money market instruments.
A report by Trade Arabia states that the Bitcoin Fund is now in a position to list up to $200 million worth of units on Nasdaq Dubai, following its
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