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Mideast joins Bitcoin craze with first Dubai cryptocurrency listing

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The Fund listed on the Nasdaq Dubai exchange Wednesday, the first of its kind to trade in the Middle East as cryptocurrencies grab attention globally.


The stock closed at $38.30, up 10 per cent for the day, according to prices on Nasdaq Dubai’s website.



The Canadian fund was the first of its type to be listed on a major exchange, in Toronto last year. The intent of the Dubai listing is to get trading at all hours around the globe. Dubai-based Dalma Capital Management Ltd is the joint lead arranger for the offering.


The Fund invests in long-term holdings of as a safer alternative to direct investments in the cryptocurrency, according to its prospectus. The fund does not speculate with regard to short-term changes in Bitcoin prices.

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First Published: Thu, June 24 2021. 01:02 IST

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