3iQ Corp. is the first Canadian company that operates a multi-cryptocurrency investment fund. This Thursday the company announced that they filed an offer for the Bitcoin Fund Initial Coin Offering(IPO). The proposal was previously rejected by the Ontario Securities Commission, which approved the offer this time. There will be two types of units at the offering at 10 USD each.
The original preliminary prospectus was filed in October 2018 by the company. However, the Ontario Securities Commission made the decision that the Bitcoin Fund was not in favor of the Canadian citizens. Hence, months later the prospectus was rejected by the Investment Funds and Structures Projects branch director. After that, 3iQ Corp. requested a review of the fund’s prospectus and it was determined that the Security Commission’s concerns were not enough to deny the prospectus. Hence, the preliminary prospectus was authorized.
The Bitcoin Fund is a private cryptocurrency investment fund with registered investment accounts and units with a qualified investment. The Initial Coin Offering will expose investors to the first crypto coin, Bitcoin, along with its price shifts compared to the United States Dollar. The Bitcoin in the Bitcoin fund will be custodied by the Gemini cryptocurrency exchange.
According to the 3iQ cord. this Initial Coin Offering will be the first private regulated Bitcoin product in the world. Yet, this doesn’t seem to be actually true. Amun AG, a Switzerland-based company, claims to make investing in crypto assets as easy as investing in traditional assets. They have launched exchange-traded products for crypto coins on the SIX crypto exchange. The company was created in 2018 in Zug with offices in Zurich, Switzerland and New York, the United States.
Bitcoin is steadily becoming more mainstream and user-friendly. To find out more about Bitcoin, its price, and other related news, check out Bitcoin Price updates and Bitcoin (BTC) Price Predictions to stay up to date with the crypto market’s largest currency.