Canada’s first public BTC fund has reached $1 billion market cap

3iQ’s QBTC Fund has grown 900% since October, crossing the $1 billion milestone

Canadian digital asset manager 3iQ has recorded another major milestone for its public Bitcoin (BTC) fund.

On 14 January, 3iQ’s Bitcoin fund (QBTC) reached $1 billion, as announced by the company on Twitter. The new milestone Profit Secret demonstrates QBTC’s parabolic growth since 3iQ launched the fund in April 2020. QBTC is now 900% positive compared to October last year, when the value of the fund was 100 million.

3iQ’s QBTC is Canada’s first public Bitcoin fund listed on a major stock exchange, the Toronto Stock Exchange. Gemini, the company of Cameron and Tyler Winklevoss, provides custody services for QBTC.

At the time of publishing this article, QBTC.U is trading at $48.63, up 330% from $11 in April, when the listings opened.

3iQ is one of Canada’s largest crypto companies. In January 2018, their fund became the first to be regulated by the Ontario Securities Commission and the Canadian Securities Administrators. In February 2020, however, the company partnered with blockchain startup Mavennet to launch a stablecoin pegged to the Canadian dollar, which will be regulated by the Financial Transactions and Reports Analysis Centre of Canada.

Former 3iQ senior executive Shaun Cumby is now also CEO of Arxnovum, a company that applied to the OSC for a listed BTC fund on 11 January. Again, custody services for Arxnovum will be provided by the Winklevoss twins‘ company.