The Bitcoin Fund by 3iQ Completes Private Placements
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THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, OR INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES OF THE BITCOIN FUND (THE “FUND”) IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
TORONTO, Feb. 22, 2021 (GLOBE NEWSWIRE) — (TSX: QBTC, QBTC.U) The Bitcoin Fund (the “Fund”) is pleased to announce that it has completed private placements in January 2021, accepted by the Toronto Stock Exchange (the “TSX”), aggregating 1,128,282 Class A units of the Fund (“Units”). Following a four-month statutory hold period, investors in the private placements may elect to sell their Units on the TSX. Units are listed on the TSX under QBTC and QBTC.U.
The Fund seeks to provide its Unitholders with (a) exposure to the digital currency bitcoin and the daily price movements of the U.S. dollar price of bitcoin, and (b) the opportunity for long-term capital appreciation.
The Fund acquires assets from reputable bitcoin trading platforms and OTC counterparties, in order to provide investors with a convenient and safer alternative to a direct investment in bitcoin. Gemini Trust Company, LLC, a trust company licensed by the New York State Department of Financial Services, acts as sub-custodian of the Fund’s assets. 3iQ believes an investment in bitcoin will provide investors with a low-correlated asset class which will complement traditional investment strategies.
3iQ is the investment fund manager and portfolio manager of the Fund.
About 3iQ Corp.
Founded in 2012, 3iQ Corp. (“3iQ”) is Canada’s largest digital asset investment fund manager with more than C$2.2 billion in assets under management. 3iQ was the first Canadian investment fund manager to offer a public listed bitcoin investment fund, The Bitcoin Fund (TSX:QBTC). Gaining access to digital assets such as bitcoin can be daunting, costly, and inconvenient. 3iQ offers investors convenient and familiar investment products to gain exposure to digital assets. For more information about 3iQ and The Bitcoin Fund, visit www.3iQ.ca or follow us on Twitter @3iQ_corp.
Fred Pye – Chairman and CEO
P: +1 (416) 639-2130
You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the Toronto Stock Exchange, the Gibraltar Stock Exchange or other alternative Canadian trading system (an “exchange”). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the Fund and may…