First Bitcoin Fund Launches in Dubai : A New Exposure To Bitcoin
The Bitcoin Fund has been listed, Canada’s largest digital asset investment fund manager, Nasdaq Dubai on the by 3iQ Corp.
Trades prices are going above the reference price line, this clearly showing how much the Bitcoin Fund has attraction like a magnet.
Fund stock traded at $38.40 after launching, 11% higher than the initial reference price of $34.57.
Canada’s largest digital asset investment fund showed his step to list Bitcoin in trade pairs as Bitcoin Fund. This decision by Nasdaq Dubai is not an instant decision. This decision was taken earlier this year.
But the CEO of 3iQ,Frederick Pye, was waiting for the perfect time to add Bitcoin in their market.
According to Frederick Pye, This was the perfect time to add BTC at Their platform because at the present time the price of Bitcoin is almost half from it’s all time high.
And now next time probably it will touch another all-time high soon.
Every person knows very well about the Bitcoin potential and everyone wants an easy way to get into bitcoin investment directly or indirectly.
In recent months Dubai also gained lots of attraction because of the popularity of DUBIX coin and also licensed trading relief for high profile Investors institutions.
All these activities that were going on, were clearly showing how much people in Dubai’s region are interested in Cryptocurrency trade.
Cryptocurrency trading is partially legal for people but it is not legal for retail traders.
Read also : Dubai Creates First Blockchain-Based KYC Platform for Businesses
But here the movement by Toronto Stock Exchange & Nasdaq Dubai is making possible easy trade for Bitcoin investment.
According to the announced information and published notification about this new step by Nasdaq Dubai, a user can transfer funds from Toronto Stock Exchange to Nasdaq Duba and vice versa.
Well here we can say that Bitcoin will get new consumers. Because Bitcoin is popular in all fields to use since long term. But now those stick market traders will see it as another way of investing their money.
Many financial experts believe that the stock market is more stable than the crypto Market.
So these steps will clearly help Bitcoin lovers to see it as a stable and better marketplace like the stock market.
Overall it will not be the only option of investment but it will increase the reputation of Bitcoin in another field and more and more people will try to understand Bitcoin at a basic level.
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