3iQ Digital Asset Management Company Begins BTC Fund Management for Bhutan's New City (GMC)
Prefer us on Google3iQ Digital Asset Management Company Starts BTC Fund Management for Bhutan's GMC
On July 30, 2026, leading cryptocurrency asset manager 3iQ announced a strategic partnership with the special administrative region of GMC (Gelephu Mindfulness City) in southern Bhutan. As a result, 3iQ becomes the first designated asset management company to manage a portion of the national-scale Bitcoin (BTC) assets held and managed by GMC.
GMC is a major project aiming to launch a new digital offshore financial hub by integrating sustainability and traditional values with international legal frameworks and cutting-edge technology. This agreement marks a symbolic first step towards building a comprehensive digital asset ecosystem in GMC.
Strategic Utilization and Management Direction of Nationally Held BTC
In Bhutan, Bitcoin (BTC) mining has been conducted utilizing the country's abundant renewable energy from hydropower.
In December 2025, His Majesty King Jigme Khesar Namgyel Wangchuck announced a policy to allocate up to 10,000 BTC from the country's held cryptocurrency assets to support urban development.
In recent years, the Bhutanese government has been gradually selling BTC to secure funding for infrastructure development, but the creation of this dedicated management framework indicates a shift towards long-term asset management based on institutional investor-level discipline, rather than mere sale and consumption of funds. Pascal St-Jean, CEO of 3iQ, has promised a long-term perspective on fund management with transparency and accountability.
Local Talent Development and Expansion of Financial Hub
The selection of 3iQ as a founding partner by GMC is based on its high expertise and track record, including the world's first ETP (Exchange-Traded Product) for cryptocurrencies, as well as its commitment to contributing to the local community.
3iQ has agreed to establish a permanent base in Gelephu and invest in capacity development through the transfer of specialized knowledge and training of local staff.
GMC is offering rapid licensing and tax incentives for financial institutions, and with the collaboration with 3iQ, it aims to establish a comprehensive financial ecosystem that attracts leading asset management companies and talented individuals from around the world.
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