3iQ to List The Bitcoin Fund on Nasdaq Dubai

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THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, OR INTO OR FROM CANADA OR THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES OF THE BITCOIN FUND (THE “FUND”) IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.

 

Dubai, United Arab Emirates, April 20, 2021 | 3iQ Digital Asset Management today announced that it has received its letter of ‘no further material comments’ from the Dubai Financial Services Authority in respect of its proposed listing of The Bitcoin Fund on Nasdaq Dubai. Listing is anticipated to be in the second quarter of this year. 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 Bitcoin Fund will be the Middle East’s first listed digital asset-based fund, leveraging Dubai’s world-class regulatory environment that supports the growth of new economy businesses and investments.

“We believe that this is the opportune moment to expand this unique investment opportunity into the Middle East region. Since it’s 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,” said Frederick Pye, Chairman and CEO, 3iQ Corp.

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

“We have prided ourselves in our ability to identify solutions for our clients in the alternative investment space. 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. We look forward to making this product available for clients on regional banking, wealth management and brokerage platforms,” said Zachary Cefaratti, CEO, Dalma Capital Management.

Globally, bitcoin has seen tremendous growth as the world’s leading digital asset with price peaking at US$60,000 per unit in March. The Bitcoin Fund brings titled, auditable ownership of bitcoin through a traditional investment vehicle to the region for the first time, allowing for a publicly quoted mechanism for exposure to an asset class that has experienced exceptional appreciation over the preceding decade.

3iQ has also appointed a number of other advisors in various capacities to support with the listing; 01 Capital a London based corporate finance advisor for the origination and execution of the listing, Razlin Capital a London based investment firm for advice on the listing and Pinsent Masons LLP as its legal counsel for the listing process.

Investors keen to learn more about The Bitcoin Fund can visit Nasdaq Dubai on https://www.nasdaqdubai.com/listing/listed-securities or 3iQ on https://www.3iq.ae

About 3iQ Corp.

Founded in 2012, 3iQ is Canada’s largest digital asset investment fund manager with more than C$2 billion in assets under management. 3iQ was the first Canadian investment fund manager to offer a public bitcoin investment fund, The Bitcoin Fund (TSX: QBTC, QBTC.U). 3iQ offers investors convenient and familiar investment products to gain exposure to digital assets. For more information about 3iQ and its digital asset investment funds, visit www.3iQ.ca or follow us on Twitter @3iQ_corp. 

About Dalma Capital Management

Dalma Capital is a global alternative investment platform and accelerator focused on alpha generating strategies with an inherent edge in emerging investment strategies and markets. Established in 2011 and headquartered in the Dubai International Finance Centre, Dalma Capital’s goal is to identify the next generation of alpha generating ‘edge’ fund managers, strategies and opportunities.

Dalma Capital is authorized and supervised by the Dubai Financial Services Authority (the “DFSA”) under a prudential category 3c license. The DFSA has no responsibility for reviewing or verifying any documents in connection with the Fund and, accordingly, has not approved this document nor taken any steps to verify the information set out herein and has no responsibility for it.

About 01 Capital

01 Capital is a London based corporate finance boutique. The firm has deep roots in traditional finance coupled with extensive knowledge of the new digital economy and first-hand experience with numerous digital asset projects. 01 Capital’s range of services includes capital markets advisory, corporate finance, network and token economics, fundraising, and consulting.

About Razlin Capital

Razlin Capital is a London-based, FCA regulated boutique investment advisory firm. The Razlin team is comprised of seasoned financial market professionals with backgrounds in Emerging and Frontier Markets sales, trading, investment advisory, deal making, and listing services. Together the team has over 100 years of experience of introducing esoteric and lesser-known capital markets to institutional investors around the globe. Razlin’s focus is to continue to build the bridge between the world of traditional finance and the world of emerging digital assets.

About Pinsent Masons

Pinsent Masons is an international law firm headquartered in London with 26 offices globally.  The firm has been in the Middle East for over thirty-five years. Headed by partner Tom Bicknell, the firm’s regional financial services team advises on capital markets, financial regulation, digital assets and fund management.

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Important Notices

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED THEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM CANADA OR THE UNITED STATES OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

This announcement should not be distributed, forwarded, transmitted or otherwise disseminated in or into Canada or the United States. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for securities in Canada, the United States or any other jurisdiction. The Fund’s securities have not been and will not be qualified for distribution under applicable securities legislation in Canada (“Canadian Securities Laws”), or registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or under the applicable securities laws of any state or other jurisdiction of the United States, and may not be offered, sold, resold, transferred or delivered, directly or indirectly within, into or in Canada or the United States, absent registration or an applicable exemption from, or except in a transaction not subject to, the registration requirements of Canadian Securities Laws or the Securities Act, as applicable, and in compliance with the securities laws of any relevant state or other jurisdiction of the United States.  Neither this announcement, nor the fact that it has been disseminated, shall form the basis of, or be relied upon in connection with, any future information that we distribute.

 

Nothing contained in this announcement constitutes or shall be deemed to constitute financial, legal, tax or other advice of any kind. This announcement is published solely for informational purposes and has no regard to the specific objectives, financial situation or particular needs of any person. Information contained herein is believed to be reliable, but no warranty is given as to its accuracy or completeness and views and opinions are subject to change without notice.

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Certain statements contained in this document constitute forward-looking information within the meaning of Canadian Securities Laws. Forward-looking information may relate to matters disclosed in this document and anticipated events or results and may include statements regarding the future financial performance of the fund’s managed by 3iQ. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.