The Middle East's first Bitcoin fund has launched on the Dubai bourseAdvertising Read moreDubai (AFP)The Middle East's first bitcoin fund launched on the Dubai bourse on Wednesday, with Canadian digital asset manager 3iQ Corp seeking to raise around $200 million in the offering. "3iQ Corp., Canada's largest digital asset investment fund manager... today officially listed The Bitcoin Fund on Nasdaq Dubai, the region's international exchange," the bourse said in a statement. It said that "this fund is the world's first regulated major Bitcoin fund to be listed on the capital markets in the Middle East North Africa region". Bitcoin fell under $30,000 on Tuesday for the first time in five months, hit by concerns over China's ongoing crackdown. The 3iQ fund finished up 10.38 percent at $38.30 following Wednesday trading, according to the Nasdaq Dubai website.

Source: The North Africa Journal June 23, 2021 12:11 UTC