Canadian entrepreneur seeks to list crypto ETFs in New Zealand
His company, 3iQ, also hopes to list the funds in New Zealand.
Pye brought with him a slick roadshow that traverses the history of bitcoin, how crypto works and why the technology behind blockchain – the platform upon which bitcoin ‘rides’ – has the potential to change the way the world lives and does business.
In 2020, 3iQ, in 2020 launched the first exchange-traded cryptocurrency fund in North America. “We believe everybody should have a piece of bitcoin in their portfolio,” Pye says.
Trouble is, he says, investment in crypto can be cumbersome and daunting and the market is riddled with jargon and complexity, not to mention volatility and risk. From its high of US$69,000 in November last year, bitcoin is now trading at around the US$28,000 mark.
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