Dubai Based Crypto Investment Fund to Convert $750 Million Worth of BTC Into ...
A Dubai based crypto-based investment fund, FD7 Ventures says it will offload bitcoins worth $750 million and will use the proceeds to increase positions in Cardano and Polkadot tokens. According to FD7 Ventures, this switch to the two altcoins will help the fund to better serve the interests of investors who are looking to diversify their portfolios. Altcoins Preferred In his remarks following this announcement, Prakash Chand, the managing director at FD7 Ventures, touts the potential of the two altcoins while claiming that BTC “is actually pretty useless.” Chand added:....
Related News
The DFSA is establishing itself as an innovative regulator for the region by focusing on fintech and innovative technology. The Bitcoin Fund (QBTCu.TO), a closed-end investment vehicle based in Canada, has received regulatory approval from the Dubai Financial Services Authority (DFSA). The fund debuted on Nasdaq on June 23, 2021, and became the first listed digital asset fund in the Middle East.The fund’s goal is to provide investors with exposure to Bitcoin (BTC) and the daily price changes of Bitcoin in United States dollars, as well as long-term capital appreciation. The fund is a....
3iQ launched its Bitcoin Fund trading on Nasdaq Dubai after receiving regulatory clearance for a dual listing in April. Canada’s largest digital asset investment fund manager, 3iQ, is expanding its reach to global investors by listing its public Bitcoin (BTC) fund on a major market in the Middle East.3iQ rolled out its Bitcoin Fund (QBTC) for trading on Nasdaq Dubai, according to an official statement by the exchange. Trading went live on Wednesday at 10:00 a.m. Dubai time.The new listing marks the emergence of Middle East’s first indexed digital asset-based fund, 3iQ chairman and CEO....
The Bitcoin Fund has become the first bitcoin investment fund to trade in the Middle East after being listed on the Nasdaq Dubai exchange.
According to an executive with the Dubai-based DAMAC Properties, the real estate development “company has already succeeded in concluding real estate deals worth $50 million via cryptocurrencies since the beginning of this year.” The executive, however, says his company is facing challenges convincing the older generation decision-makers to buy into the metaverse, non-fungible tokens, and cryptocurrencies.
Using a Trusted Intermediary
The Dubai-based real estate developer, DAMAC Properties, has since the beginning of the year completed cryptocurrency deals worth....
A technology initiative backed by the Dubai government has launched a $275m startup investment fund (1bn AED) organizers say will likely back blockchain projects. Announced last week, the Dubai Future Foundation officially opened the Dubai Future Accelerators initiative, a 12-week startup program based in the United Arab Emirates that will seek to encourage innovation in "strategically important" sectors. A partnership with global investment firm Dubai Holding, the effort is centered around promoting the development of business ideas around six "challenges" in areas....