June 4, 2023

Dubai Week

Complete Dubai News World

Stock market: Bitcoin fund Nasdaq lands in Dubai

Primarily for Middle Eastern countries. Bitcoin went public in Dubai. Created in 2008 to deal with global financial irregularities in the wake of the financial crisis, the Queen of Cryptocurrencies has attracted more and more institutional investors and individuals. “3iQ Corp (…), Canada’s largest digital asset investment fund manager, today officially listed Bitcoin funds on the regional international stock exchange Nasdaq in Dubai,” the latter said in a statement. “This product is traded in an exchange, regulated and based on it Bitcoin, The first fund based on listed digital assets in the Middle East and North Africa (MENA), ”he said.

“When we launched this fund in Toronto last year, expansion in the Middle East was always on the cards. Today we are very proud to have taken this step in Dubai,” said Frederick Pie, CEO of 3iQ Corp. “The Bitcoin Fund is ready to offer regional investors the greatest value they want to diversify their portfolio,” he added. This dual list of funds allows investors to transfer their shares from the Toronto Stock Exchange to Nasdaq Dubai (and vice versa) and acquire shares directly in Nasdaq Dubai.

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“This milestone is a step in Dubai’s relentless efforts to meet and meet the changing needs and demands of investors,” said Hamet Ali, Managing Director, Nasdaq Dubai. Despite its success in recent months, the value of Bitcoin rose again on Tuesday after falling below $ 30,000 for the first time since the end of January due to Chinese efforts to regulate this decentralized market.

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The most volatile cryptocurrency since the beginning of this year is more than 12%, but it is at an all-time high, reaching $ 64,870 in mid-April.

>> Read more – 10 most asked questions about Bitcoin