3iQ – the Canada – based asset managing firm – has reportedly introduced the first public Bitcoin (BTC) fund, on the Toronto Stock Exchange (TSX), following 3 years of handling legal-related issues. 

Specifically, a total of 1.5 million Class A ‘QBTC.U’ shares has reportedly been put up for sales via ‘The Bitcoin Fund’ on TSX, on April 9th. The $11 benchmark is at the moment the trading price for the fund shares. 

On April 10th, crypto enthusiast and investor Tyler Winklevoss reported remarked that the official release of The Bitcoin Fund on TSX has become an important milestone in history, being “the first public Bitcoin fund listed on a major stock exchange.”

Gemini – the crypto exchange platform founded and run by the Winklevoss twins – is currently in charge of providing custodial feature for The Bitcoin Fund.

The TSX is one of the most major stock exchange across Canada, with over $97 billion of trading revenue recording on a month-to-month basis. The price indexes employed in the fund are designed by crypto data firm CryptoCompare, along with MV Index Solutions – an EU-focused branch of VanEck.

The shares issued by the fund will reportedly act as a means that provides an opportunity of exposure to Bitcoin, which does not require knowledge in the field of crypto custody and security. The fund further rolls out Class F shares with the primary demographic is institutional investors.

3iQ has reportedly undergone a 3-year process of the terms with the Ontario Securities Commission (OSC), before finally obtaining the greenlight for the fund.