Dubai - Mubasher: Canada's 3iQ Digital Asset Management has received regulatory clearance from the Dubai Financial Services Authority to list the Bitcoin Fund on Nasdaq Dubai to become the Middle East’s first listed cryptocurrency digital asset-based fund.

The Bitcoin Fund, which was launched on the Toronto Stock Exchange in 2020 as the world’s first regulated and major exchange-listed bitcoin fund, is expected to be listed on Nasdaq Dubai in the second quarter (Q2) of 2021, according to a press release on Tuesday.

The Bitcoin Fund enables the region to have access to titled and auditable ownership of bitcoin through a traditional investment vehicle.

Meanwhile, 3iQ has selected the Dubai International Financial Centre (DIFC)-based Dalma Capital, a global alternative investment platform, to be its syndicate manager for the regional expansion.

The Chairman and CEO of 3iQ Corp, Frederick Pye, commented: "Since its launch in Canada, we have seen tremendous success with The Bitcoin Fund having achieved approximately $1.37 billion assets under management."

The CEO of Dalma Capital Management, Zachary Cefaratti, commented: "At Dalma Capital, we believe that The Bitcoin Fund from 3iQ offers an efficient solution for regional investors to access the asset class via a regulated investment vehicle with robust market infrastructure."