24 Jun 2021 | 02:52 pm | 1 min. read
Multinational law firm Pinsent Masons has advised leading digital asset management company 3iQ Corp (3iQ) on its listing of The Bitcoin Fund on Nasdaq Dubai.
The Bitcoin Fund was launched on the Toronto Stock Exchange in 2020 as the world’s first regulated, major exchange-listed bitcoin fund. In listing on Nasdaq Dubai, the fund is the Middle East’s first listed digital asset-based fund.
With bitcoin seeing huge growth globally as the world's leading digital asset, the fund brings titled, auditable ownership of bitcoin through a traditional investment vehicle to the region for the first time.
The team at Pinsent Masons was led by Tom Bicknell, head of financial services in the Middle East.
Commenting on the listing, Frederick Pye, Chairman and CEO, 3iQ Corp said:
“We believe that this is the opportune moment to expand this unique investment opportunity into the Middle East region. Since its launch in Canada, we have seen tremendous success with The Bitcoin Fund having achieved approximately US$1.37 billion assets under management. The fund truly provides investors a chance to get involved with a complex digital asset through a medium that is clear, concise and easy to understand,”
Tom Bicknell, Pinsent Masons' Head of Financial Services in the Middle East said:
"It is an exciting time in the world of bitcoin and it's been amazing to work with 3iQ on this listing - the first of its kind on Nasdaq Dubai. The leading regulatory environment in Dubai has played a key role in enabling this and I hope that this is just the beginning of an exciting new chapter for digital asset-based funds in the region."
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