(Trade Arabia) Dubai Financial Services Authority has approved the listing of Bitcoin Fund, a closed-end investment fund, on Nasdaq Dubai.
The Fund becomes the first digital asset to list in the Middle East amid a push by the regulator to leverage innovative technology in the financial sector to enhance economic growth.
Bitcoin Fund can reportedly list up to $200 million worth of units on the exchange, which institutional and individual investors can access.
Nasdaq Dubai will be the first exchange in the Middle East to offer the service in its push to adopt financial technology.
Bitcoin fund, which launched on NASDAQ mid this year, aims to give investors exposure to Bitcoin and the price fluctuations of Bitcoin in USD and capital appreciation.
The investment fund has a diverse portfolio of digital assets that invests in U.S. dollar money market funds and Bitcoin.
BTCUSD is down -2.75%.
