3iQ Corp Appointed to Manage Bhutan's Bitcoin Reserves
Bhutan's Bitcoin assets will now be professionally managed by an institutional manager.
1Historic Agreement
Gelephu Mindfulness City, Bhutan's southern special administrative region, has appointed Toronto-based 3iQ Corp to manage a portion of its Bitcoin reserves. Announced on July 30, 2026, this agreement marks the first concrete step in implementing Bhutan's December 2025 strategy to allocate up to 10,000 BTC from national holdings to support GMC's long-term development.
2Management Details
3iQ's mandate covers management of a defined portion of GMC's Bitcoin reserves, but the press release didn't disclose specifics like the amount of BTC under management, custody arrangements, permitted strategies, or fee structure. This lack of transparency is notable for a sovereign-linked reserve management agreement.
3Strategic Partnership
3iQ's role extends beyond conventional asset management. The firm committed to local talent development, knowledge transfer, and establishing a permanent office in Gelephu. GMC board director Jigdrel Singay emphasized that 3iQ was selected not just for its digital asset management track record but for its commitment to building local capabilities.
43iQ's Profile
Founded in Toronto in 2012, 3iQ gained recognition as Canada's first regulated digital asset fund manager and pioneered the first Bitcoin and Ethereum ETP on a major global exchange. As a subsidiary of Netherlands-based Coincheck Group N.V. (NASDAQ: CNCK), the Bhutan mandate represents a significant expansion into sovereign and quasi-sovereign client territory.
5Bhutan's Bitcoin Strategy
Bhutan accumulated its Bitcoin reserves primarily through hydropower-backed mining, managed by the kingdom's sovereign investment arm DHI. Data shows Bhutan's sovereign BTC holdings decreased from about 13,390 BTC in October 2024 to an estimated 5,600 BTC by mid-2026, suggesting partial liquidation to fund domestic infrastructure priorities including GMC.
6Shift to Active Management
The 3iQ partnership signals Bhutan's transition from pure accumulation to active portfolio management of its Bitcoin reserves. While continuing to sell portions of its holdings, the country is now institutionalizing professional management of the remainder, reflecting a dual strategy for both liquidity and long-term growth.
7Digital Financial Hub Ambitions
GMC offers fast-track licensing for firms regulated in Singapore, Hong Kong, and Abu Dhabi, zero corporate tax in selected sectors, and banking access through DK Bank. The 3iQ agreement is framed as the first of several milestones in establishing GMC as a competitive digital offshore financial center.
8Industry Significance
This agreement represents a rare case of a sovereign nation delegating Bitcoin reserve management to a professional institutional manager. Combined with Bhutan's mining background and digital finance hub aspirations, this move could position the country as a significant player in the global crypto ecosystem and set a precedent for other nations.
Original article: News - Cryptonews — Bhutan Bitcoin Rezervlerini 3iQ Corp Yönetecek