A Canadian investment fund manager 3iQ Corp has announced it received permission from the Ontario Securities Commission (OSC) regarding the listing of the Bitcoin Fund on a major Canadian stock exchange.
Fred Pye, President & CEO of 3iQ claims the company has been working actively with the OSC’s Investment Funds and Structured Products Branch for the last three years to create a fund that "will allow retail investors the benefits of investing in bitcoin through a regulated, listed fund."
"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," Pye added.
The Winklevoss' crypto exchange Gemini Trust Company will reportedly act as custodian of the bitcoin in the fund.