The Bitcoin Fund receives DFSA Approval for its ATM Program listing

• Capability to list units worth up to US$200 Million 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 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 in any jurisdiction in which any such offer or solicitation would be unlawful. 

Dubai, UAE, 27 October 2021: The Bitcoin Fund, the Middle East’s first listed digital asset-based fund has received approval from the Dubai Financial Services Authority (DFSA) for its At-the-Market program on Nasdaq Dubai.

In line with the approval of the offering, The Bitcoin Fund is now in a position to list up to US$200 Million worth of units on Nasdaq Dubai which will allow the Middle East’s first listed digital asset product to be able to deliver on the growing demand from regional institutional investors.

“We are extremely proud to have received the approval of the ATM program from the DFSA. Since we listed The Bitcoin Fund on the Nasdaq Dubai, we have seen an ever increasing appetite from the large regional institutional investors. With the ability to now execute significantly larger sale offerings we anticipate that this will help to further grow the fund in the region,” said Frederick Pye, Chairman and CEO, 3iQ Digital Asset Management (“3iQ”).

Since June, Bitcoin has been on a price rally crossing a new all-time high of US$66,000 mark earlier this week. Driven primarily by a fresh round of adoption by institutions and renewed interest by retail investors, the world’s number one digital asset continues to exceed expectations.

As a digital asset, Bitcoin has seen unprecedented levels of growth and through the fund on Nasdaq Dubai, it offers regional investors a once-in-a-lifetime access to the world’s largest digital asset through a regulated medium that they are familiar with.

“At the time of the Middle East launch, the price of Bitcoin was around the US$33,000 mark – which from an investor standpoint we felt was a great entry point into the market for our Middle Eastern investors,” added Pye.

Trading of The Bitcoin Fund is completely interchangeable between the Toronto Stock Exchange and Nasdaq Dubai, thereby implying equal value between the assets and as an exchange listed fund, it allows investors to purchase and sell with ease and convenience allowing for a true ease of access. The Bitcoin Fund will also be accessible to all investor profiles; from institutional grade or retail. 3iQ has appointed Canaccord Genuity and Dalma Capital as the joint-lead arrangers for the regional offering of the Fund. BHM Capital has also been appointed as the Fund’s Liquidity Provider.

Globally, Bitcoin has seen tremendous growth as the world’s leading digital asset with price peaking at US$66,000 per unit in October. 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.

About 3iQ Corp.

Founded in 2012, 3iQ Corp. (“3iQ”) is Canada’s largest digital asset investment fund manager with more than C$3.5 billion in assets under management. 3iQ was the first Canadian investment fund manager to offer a public listed bitcoin investment fund, The Bitcoin Fund (TSX:QBTC, QBTC.U) and a public Ether investment fund, The Ether Fund (TSX: QETH.UN, QETH.U). More recently, 3iQ launched the 3iQ CoinShares Bitcoin ETF (TSX: BTCQ, BTCQ.U) and the 3iQ CoinShares Ether ETF (TSX: ETHQ, ETHQ.U). 3iQ offers investors convenient and familiar investment products to gain exposure to digital assets. For more information about 3iQ and The Bitcoin Fund, visit www.3iQ.ca or follow us on Twitter @3iQ_corp.

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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 THE UNITED STATES OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

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.

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.

Information contained in this announcement in respect of The Bitcoin Fund or Units of The Bitcoin Fund should not be considered an offer to sell or a solicitation of an offer to buy or subscribe for the same.

This announcement is not directed to any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where the content of this announcement would be contrary to law or regulation or which would subject us to any registration or licensing requirement within such jurisdiction. You expressly acknowledge that you are, as the case may be, an individual who is legally or authorised to seek information about the matters referred to or described on the announcement.

3iQ CORP. AND DALMA CAPITAL MANAGEMENT LIMITED, INCLUDING THEIR DIRECTORS, AGENTS, EMPLOYEES, CONTRACTORS AND SALES PARTNERS DISCLAIM, IN FULL ACCORDANCE WITH THE LAW IN FORCE, ANY LIABILITY FOR LOSSES OR DAMAGE OF ANY KIND ARISING DIRECTLY OR INDIRECTLY AS A RESULT OF: (1) THE CONTENT OF THE ANNOUNCEMENT, IN PARTICULAR ITS UP-TO DATE NATURE, ACCURACY AND COMPLETENESS (2) ERRORS OR OMISSIONS ON THE ANNOUNCEMENT; (3) USE OF OR ACCESS TO THE ANNOUNCEMENT; (4) INABILITY TO ACCESS OR USE THE ANNOUNCEMENT FOR ANY REASON.

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Please read the Fund’s prospectus before investing. Important information about the Fund is contained in the prospectus. Copies of the prospectus may be obtained from 3iQ Corp. or Dalma Capital Management.

You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on a stock exchange or other alternative trading system (an “exchange”). If the units of the Fund are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in its public filings. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

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.