Canadian investment fund manager 3iQ received initial approval on its long road to launch a closed-end bitcoin fund on the Ontario Stock Exchange later this quarter.
The firm said on Wednesday that it received a favorable ruling before a panel of the Ontario Securities Commission (OSC) for the Bitcoin Fund, noting the commission moved to direct the OSC Director to issue a receipt for a final prospectus.
“We have addressed the questions of pricing, custody, audit, and public interest issues in a regulated investment fund. We intend to refile the prospectus as soon as possible,” CEO Fred Pye said in a statement.
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