3IQ to bring its digital asset management services to UAE
UAE-based 3iQ Middle East Ltd has received in-principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) for a Category 4 license as it seeks to offer digital asset investment services in the Middle East starting from the UAE.
3iQ is one of the world’s leading alternative digital asset managers, pioneering institutional-grade investments. 3iQ launched the world’s first Digital Assets Managed Account Platform (QMAP), a hedge fund investment solution, offering innovative risk-managed investment solutions to gain exposure to digital assets.
It was also the first to launch a Bitcoin and Ethereum ETP listed on a major global stock exchange, integrate staking into its Ethereum and Solana ETPs boosting investor returns, and offer other regulated ETPs.
The announcement follows 3iQ’s partnership with UAE-based Further Asset Management, which gives institutional investors access to the 3iQ Managed Account Platform (QMAP). The platform attracted $100 million in sovereign-linked seed capital.
3iQ’s Middle East business is headed by Rachel Pether, who joined the company in 2023. Pether previously spent almost a decade with Abu Dhabi sovereign investor Mubadala’s Capital Markets and Treasury team and served as a senior adviser at SkyBridge Capital.
Pascal St-Jean, CEO of 3iQ and Coincheck Group, said, “3iQ has been a huge believer in the UAE as a key digital asset hub with an advanced regulatory regime that protects investors. As a first mover in the provision of innovative digital asset investment solutions, and along with our partnership with Further Asset Management, 3iQ looks forward to cementing a presence in the region, starting with the Abu Dhabi Global Market.”
3iQ’s expansion in the UAE and Middle East
The ADGM approval follows several earlier 3iQ developments. In April 2021, the Canadian digital asset manager received regulatory approval in the Dubai International Financial Centre to list its Bitcoin Fund on Nasdaq Dubai, with UAE-based Dalma Capital acting as syndicate manager for its MENA expansion.
In December 2023, Japan’s Monex Group acquired a majority stake in 3iQ for $39.8 million. At the time, 3iQ had already launched regulated exchange-listed Bitcoin and Ethereum funds in North America and unveiled QMAP, its managed-account platform connecting institutions with digital asset hedge fund strategies.
In May 2025, ADGM-regulated private markets platform AltNovel partnered with 3iQ to launch the AltNovel Digital Access Portfolio, a digital asset multi-strategy fund for professional qualified investors in the Middle East.
In October 2025, 3iQ partnered with UAE-based Further Ventures to launch a multi-strategy digital asset hedge fund for institutional and sophisticated investors. In June 2026, Further Asset Management and 3iQ introduced a new USD-denominated share class of the Further x 3iQ Alpha Digital Fund, giving investors access to long Bitcoin exposure and digital asset alpha without having to source or custody Bitcoin directly.
As for the recent in principle approval, Rachel Pether, Head of Middle East at 3iQ, commented, “This is an exciting development for 3iQ and has materialised following constructive collaboration with the ADGM’s proactive regulator. Ever since 2023 when we established a footprint in the UAE, 3iQ has taken steps towards becoming the leader in the region with our proven track record of attracting sovereign wealth and institutional capital to digital assets.”
Arvind Ramamurthy, Chief Market Development Officer at ADGM, congratulated 3iQ on receiving its IPA from the FSRA, an important step in its journey to establishing a regulated presence in ADGM. T
He added,”We look forward to supporting 3iQ as it progresses through the licensing process and seeks to contribute to Abu Dhabi’s growing digital asset ecosystem.”
