A company gets a preliminary letter regarding the listing of a Bitcoin fund in the UAE

3iQ digital asset management company today announced that it has obtained a "no material comments" letter from the Dubai Financial Services Authority regarding its proposed listing of a bitcoin fund on Nasdaq Dubai.

It is worth noting that the Central Bank confirmed in previous statements to "Emirates Today", that it does not at present accept (or approve) encrypted or virtual assets as legal cash that absolves liability in the UAE, and it does not recognize these assets as a means of payment They can only be used as investment assets with potentially high risk.

For his part, 3iQ Chairman and CEO Frederick Bay said that this fund was previously launched in Canada and met with tremendous success with nearly $ 1.37 billion in assets under management.

In the event of final approval, the listing is expected to take place in the second quarter of this year on Nasdaq Dubai, as the Bitcoin fund will be the first listed digital assets fund in the Middle East.

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