Canadian investment fund manager 3iQ has launched a bitcoin fund that is now traded on the Toronto Stock Exchange.

The Regulated Bitcoin Fund, which was created presenting it For the first time to the Ontario Securities Commission last year, retail investors were given exposure to bitcoin in their traditional registered investment accounts.

The Toronto Stock Exchange is the largest exchange in Canada, facilitating interested investors to add bitcoin to their portfolios without having to purchase the cryptocurrency directly.

The fund index feed tracks the price of bitcoin through a benchmark developed by VanEck’s MV Index Solutions and market data provider CryptoCompare.

3iQ will act as the investment manager and portfolio manager for the fund, which has 1,491,800 Class A units that began trading Thursday under the symbol QBTC.U, representing total assets of approximately $14 million.

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As for cryptocurrency exchanges that trade tokenized securities or bitcoin derivatives, Canadian regulators issued new guidelines last January as a step to clarify and support fast-moving developments in the industry.

Louis Morissette, Chief Executive Officer of Canadian Securities, said:

The evolving landscape of the industry prompts us to clarify our regulatory framework in order to better support Fintech businesses seeking innovative products, services and applications in Canada.

According For the new guidelines, many cryptocurrency exchanges serving Canadian residents are mandated to comply with securities laws, however, these laws do not apply if an exchange provides services for users to buy or sell bitcoin and does not offer margin trading or leverage.

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