It has been reported that the company announced on Twitter that 3iQ’s Bitcoin Fund (QBTC) hit the $1 billion mark on January 14.
However, the new milestone demonstrates QBTC’s parabolic growth after 3iQ launched the fund in April 2020. QBTC is now up 900% from its previous milestone of $100 million recorded in October 2020.
The report said that 3iQ’s QBTC is Canada’s first public Bitcoin fund listed on a major stock exchange, the Toronto Stock Exchange. Cameron and Tyler Winklevoss‘ Gemini provides custody services for 3iQ’s QBTC.
According to the sources, 3iQ is apparently one of the largest cryptocurrency firms in Canada.
In January 2018, 3iQ became the first crypto fund regulated by the Ontario Securities Commission and the Canadian Securities Administrators.
Thus, in February 2020, 3iQ also partnered with blockchain startup Mavennet to launch a stablecoin pegged to the Canadian dollar that will be regulated by the Financial Transactions and Reports Analysis Centre of Canada.