Dubai regulators approve the listing of Bitcoin fund By BTC Peers – Investing.com

Dubai regulators approve the listing of Bitcoin fund By BTC Peers – Investing.com

The Dubai Financial Services Authority (DFSA), which is establishing itself as an innovative regulator, has given the green light for a fund QBTCu.TO to be listed in the region.

QBTCu.TO is a closed-end investment vehicle based in Canada. It debuted on NASDAQ on June 23, 2021, making it the first listed digital asset fund in the Middle East. It is a diversified portfolio of digital assets that invests in Bitcoin and U.S. dollar-denominated assets. The fund aims to grant investors exposure to Bitcoin (BTC) while updating them with the daily price changes of Bitcoin in USD, as well as long-term capital appreciation.

According to a report by Trade Arabia, the approval by the DFSA has presented the Bitcoin fund an opportunity to list up to $200 million worth of units on Nasdaq Dubai. This will in turn allow the region’s first officially listed crypto-based product to satisfy the growing demand from institutional investors and individual traders.