3iQ – Canada-based investment fund management firm – has acquired required licenses to operate its publicly-traded Bitcoin (BTC) fund.

Specifically, on October 30, 3iQ revealed that the Ontario Securities Commission (OSC) has given the funds greenlight to operate its closed-end Bitcoin fund, which will soon be listed on a well-known stock exchange in Canada around the end of 2019. 

In February this year, Canada’s markets regulator has not ruled in the favour of 3iQ, regarding its submission to roll out a new regulated Bitcoin fund. The firm, nonetheless, appealed to the initial ruling, and has finally secured authorization from the OCS. 

“Over the past three years, we have worked actively with the OSC’s Investment Funds and Structured Products Branch to create an investment fund that we hope will allow retail investors the benefits of investing in Bitcoin through a regulated, listed fund.” 3iQ chief executive Fred Pye remarked.

Pye – who formerly was a senior VP at Fidelity Investments Canada – reveal that investor will be enabled to carry out Bitcoin-focused transactions, via traditional and discount brokers. The fund also offers services to Canadian registered retirement savings plans and tax-free savings accounts.

Gemini – the major crypto exchange firm headquartered in New York – has been chosen to be 3iQ Bitcoins custodian.