Not for distribution to U.S. newswire services or for dissemination in the United States.

TORONTO, Jan. 05, 2021 (GLOBE NEWSWIRE) — (TSX: QBTC, QBTC.U) The Bitcoin Fund (the “Fund”) is pleased to announce the Fund has completed private placements in November and December 2020, approved by the Toronto Stock Exchange (the “TSX”), aggregating 730,836 and 1,487,986 Class A units of the Fund (“Units”), respectively. Following a four-month holding period, investors in the private placements may elect to sell their Units on the TSX. Units are listed on the TSX under the symbol QBTC.

The Fund seeks to provide unitholders of the Fund with (a) exposure to the digital currency bitcoin and the daily price movements of the U.S. dollar price of bitcoin and (b) the opportunity for long-term capital appreciation.

The Fund acquires assets from reputable bitcoin trading platforms and OTC counterparties, in order to provide investors with a convenient and safer alternative to a direct investment in bitcoin. Gemini, a trust company licensed by the New York State Department of Financial Services, acts as sub-custodian of the Fund’s assets. 3iQ believes an investment in bitcoin will provide investors with a low-correlated asset class which will complement traditional investment strategies.

3iQ is the investment fund manager and portfolio manager of the Fund.

About 3iQ Corp.

Founded in 2012, 3iQ Corp. (“3iQ”) is Canada’s largest digital asset investment fund manager with more than C$900 million in assets under management. 3iQ was the first Canadian investment fund manager to offer a public listed bitcoin investment fund, The Bitcoin Fund (TSX:QBTC). Gaining access to digital assets such as bitcoin can be daunting, costly, and inconvenient. 3iQ offers investors convenient and familiar investment products to gain exposure to digital assets. For more information about 3iQ and The Bitcoin Fund, visit www.3iQ.ca or follow us on Twitter @3iQ_corp.

Contact Information
Fred Pye – Chairman and CEO
E: fred.pye@3iQ.ca
P: +1 (416) 639-2130

You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the Toronto Stock Exchange, the Gibraltar Stock Exchange or other alternative Canadian trading system (an “exchange”). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the Fund in its public filings available at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this document constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this document and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful. This news release is not a recommendation of, or an offer to sell or solicitation of an offer to buy, securities of The Bitcoin Fund in the United States or to U.S. persons, and this website otherwise is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.