Seeking Alpha
2021-04-20 16:21:49

The Middle East is set to see its first bitcoin fund

3iQ, the Canadian digital asset management fund, has gained authorization from the Dubai Financial Services Authority to list the first bitcoin-based fund in the Middle East.The fund will be listed on the Nasdaq Dubai and is expected to be listed this quarter.In an interview with Reuters, Frederick Pye, chairman and CEO of 3iQ, stated: “We believe that this is the opportune moment to expand this unique investment opportunity into the Middle East region.”The cryptocurrency marketplace has seen growing demand, with bitcoin investors worldwide wanting to be involved in the space. Bitcoin (BTC-USD), which saw a significant selloff over the past weekend, is still +91.68% year-to-date and is trading +0.33% on the day.In other crypto-related news, the Ontario Securities Commission approved the launch of three Ethereum ETFs today: Purpose Ether ETF (ETHH), CI Galaxy Ethereum ETF (ETHX), and Ether ETF (ETHR).

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