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Nasdaq Dubai gets its bitcoin onMENA

Nasdaq Dubai gets its bitcoin on

Major news for all you Dubai-based crypto-heads as the first-ever bitcoin-focused fund in the Middle East was just announced (wow, that was a whole load of hyphens!). The Toronto-listed digital asset management firm 3iQ will be listing its “Bitcoin Fund” on Nasdaq Dubai as early as this current quarter. Since we all know that funds are diversified, this is brilliant news for those in MENA looking to invest in digital assets but prefer a safer exposure to its volatile market.

Speaking of volatility, prices of cryptocurrencies have been through the roof lately. Bitcoin recently crossed the $63,000 mark — to pat just one of these rising stars on the back. Since 3iQ’s Bitcoin Fund went public in Canada in April last year, its value has grown to nearly $1.4b! 

why it matters
The UAE is officially embracing the digital asset craze, as it paves the way to becoming a global financial hub. Soon enough, there won’t be enough bitcoin for everyone!