3iQ’s Bitcoin ETF Rises on First Day of Trading on Nasdaq Dubai
The ETF, trading under the ticker symbol “QBTC,” is the first cryptocurrency fund to go public in the Middle East.
Jun 23, 2021 at 1:42 p.m. UTCUpdated Aug 21, 2021 at 7:02 p.m. UTC
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Canadian digital-asset manager 3iQ’s bitcoin exchange-traded fund (ETF) started trading on Nasdaq Dubai on Wednesday. The shares rose 10%.
- 3iQ Corp received regulatory clearance for the listing in April.
- The Bitcoin ETF is trading under the ticker symbol “QBTC.”
- It was launched in 2020 and is the first cryptocurrency fund to go public in the Middle East.
- 3iQ appointed Dubai-based Dalma Capital Management as the syndicate manager to help facilitate the listing and plans to work closely with banks in the United Arab Emirates and other lenders from the region.
- In April, 3iQ and investment firm CoinShares launched a bitcoin and ether ETF now trading on the Toronto Stock Exchange.
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