3iQ, a digital asset management firm regulated in Canada, recently announced that its Bitcoin (BTC) fund – the very first in the country – has broken past the $1 billion milestone, following its outrageous market cap surge of over 900% that started this past October 2020.
The firm’s BTC Fund (QBTC) isn’t even one year old yet, as it has only been launched this past April of last year. As a testament to how excellent it currently performs, just three months prior to this astounding milestone development, 3iQ’s QBTC market cap was ‘only’ at $100 million. Adding to that its title of being the first Canada-based BTC fund listed in a particular major stock exchange, namely the Toronto Stock Exchange, 3iQ’s QBTC did indeed started off strong.
It is also worth noting that the Winklevoss Brother’s Gemini is the one responsible for the particular Canadian BTC fund’s custodial services. As it currently stands, QBTC.U trades at about $48 per stock. That is yet again a massive increase from when it was first listed last year – going up by more than 330% from its mere $11 April of last year.