Saturday, June 19, 2021

Middle East’s First Bitcoin Fund Set for Nasdaq Dubai Listing

The first-ever Bitcoin-focused fund in the Middle East region will be listed on Nasdaq Dubai, its promoter said.

Canadian digital asset management firm 3iQ’s chairman and CEO Frederick Pye said they have received regulatory approval for the listing of the Bitcoin Fund on the Dubai bourse.

The company is likely to start trading on Nasdaq Dubai in the second quarter. It also aims to list the fund on exchanges in Singapore, Taiwan, Sweden and the US.

The Dubai-based alternative investment firm Dalma Capital has been named 3iQ’s syndicate manager for the fund’s in the Middle East.

Corporate finance advisor 01 Capital and investment firm Razlin Capital, both London-based, advised on the listing and Pinsent Masons was legal counsel for the listing process.

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