Bitcoin Trust Wins Go-Ahead in Canada After 3-Year Fight

Oct. 30, 2019, 8:39 PM

3iQ Corp. has won a three-year battle with Ontario’s securities regulator, paving the way for the launch of an investment vehicle that holds Bitcoin on the Toronto Stock Exchange.

“It’s a landslide decision for a major regulator to approve a retail-listed Bitcoin fund,” 3iQ President and Chief Executive Officer Fred Pye said Wednesday in an interview, adding that his firm aims to file a prospectus for the closed-end TSX-listed trust in the coming weeks.

“Initially, 3iQ expects to raise north of C$100 million ($76 million),” Pye said.

3iQ has been trying to get permission from the Ontario Securities Commission since ...

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