3iQ Bitcoin Fund begins trading on Toronto Stock Exchange
3iQ's The Bitcoin Fund completed its offering and began trading on the Toronto Stock Exchange under QBTC.U, giving Canadian investors a regulated exchange-listed vehicle holding Bitcoin.
On April 9, 2020, The Bitcoin Fund began trading on the Toronto Stock Exchange under the symbol QBTC.U after completing its initial public offering and merger with the 3iQ Bitcoin Trust. At closing, the fund had approximately US$14 million in assets.
Its stated objectives were to provide exposure to Bitcoin and the U.S.-dollar price of Bitcoin while offering the possibility of long-term capital appreciation. Investors could therefore obtain Bitcoin exposure through a conventional listed security rather than directly managing private keys.
The listing was a meaningful institutional-access milestone in Canada. It preceded the later wave of North American spot Bitcoin ETFs but showed that a regulated, exchange-listed Bitcoin fund structure was already viable in a major securities market.