The Canadian company 3iQ has obtained the prior consent of the Ontario Securities Commission (OSC) to create a Bitcoin investment fund for retail investors.
The OSC Director will make the final decision after the company updates the prospectus of the fund.
3iQ expects the Bitcoin Fund to be listed on a major stock exchange this quarter already, presumably TSX.
The benchmark Bitcoin price index for the fund was developed by MV Index Solutions, a subsidiary of investment firm VanEck. The Winklevoss brothers company Gemini Trust will act as a custodian of crypto assets.
Currently, the Canadian company manages two more funds based on digital assets – 3iQ Bitcoin Trust and 3iQ Global Cryptoasset Fund. The first owns only bitcoins, the second also Ethereum and Litecoin.