The approval from the Abu Dhabi Global Market (ADGM) allows the Toronto-based investment manager to formalize its operations within the UAE. This move aligns with 3iQ’s strategy to integrate into major global financial hubs, bringing its specialized digital asset investment solutions—including its established Bitcoin and Ethereum exchange-traded products—to the Middle Eastern market. The firm is currently operating through a strategic partnership with the local investment manager Further, which facilitates institutional access to digital assets.

Rachel Pether, who joined the firm in 2023 after a tenure at the sovereign investor Mubadala, leads the Middle East expansion. CEO Pascal St-Jean emphasized that the UAE’s regulatory environment remains a primary draw for the company, citing the region’s commitment to investor protection as a catalyst for growth. ADGM officials noted that the licensing process reflects the broader trend of international firms seeking a presence in Abu Dhabi’s evolving digital asset ecosystem.