On April 24, 2019, the Ontario Securities Commission held a hearing at the offices of the Commission, located at 20 Queen Street West, 17th Floor, Toronto, Ontario, to consider scheduling issues for the Application for a hearing and review filed by 3iQ Corp. and The Bitcoin Fund (the “Applicants”) on March 15, 2019 to review a decision of a Director of the Commission dated February 15, 2019. Since 2016, 3iQ Corp. (3iQ) has been working to bring a public bitcoin fund to market for Canadian retail investors.
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At the hearing, 3iQ submitted compelling evidence to prove that the custody, pricing and audit of The Bitcoin Fund could be performed in compliance with National Instrument 81-102 and other applicable securities law governing retail investment funds in Ontario. 3iQ believes we have defended our rights to make The Bitcoin Fund available to Canadian retail investors and that the Fund is in compliance with applicable securities laws.