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Dubai finance watchdog approves listing of Bitcoin fund

Published 10/27/2021, 06:44 AM
Updated 10/27/2021, 08:20 AM
© Reuters.

The Bitcoin Fund (QBTCu.TO), a closed-end investment vehicle based in Canada, has received regulatory approval from the Dubai Financial Services Authority (DFSA). The fund debuted on Nasdaq on June 23, 2021, and became the first listed digital asset fund in the Middle East.

The fund’s goal is to provide investors with exposure to Bitcoin (BTC) and the daily price changes of Bitcoin in United States dollars, as well as long-term capital appreciation. The fund is a diversified portfolio of digital assets that invests in Bitcoin and U.S. dollar-denominated money market instruments.

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