Key Takeaways:
Bhutan’s national Bitcoin strategy continues on major steps. 3iQ, a digital asset manager, has won a mandate to manage a portion of the Bitcoin holdings of Gelephu Mindfulness City (GMC), which is pushing for the nation to become a worldwide center for institutional crypto finance.
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3iQ announced on July 30 that it has entered a strategic partnership with Gelephu Mindfulness City, Bhutan’s Special Administrative Region, to help build a next-generation digital asset investment ecosystem.
The agreement calls for a Canadian asset management firm to manage a dedicated mandate with some of the Bitcoin fund’s treasury. Although both sides didn’t give an exact figure on the allocation size, the mandate is part of Bhutan’s overall digital asset policy revealed in late 2025.
In the past Bhutan disclosed plans of spending up to 10,000 BTC from its national Bitcoin reserves to develop Gelephu Mindfulness City. The new joint venture is the next step in that project from the reserve allotment stage to the institutional asset management stage.
The company was chosen for its track record of providing service for institutional investors and its experience in managing regulated digital asset investment products, 3iQ said.
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3iQ will not simply be an external investment manager, but will be present in Gelephu for the long term. The company will invest in its own talent and offer tech education and share its expertise with other businesses to promote digital finance in Bhutan.
Another goal of the partnership is to build an institutional-level ecosystem to welcome international asset managers, investment companies, and blockchain experts.
According to the officials of GMC, it represents a blend of international financial knowledge and Bhutan’s vision for sustainable growth and development. The city is augmenting blockchain technology and moving towards becoming the next digital offshore financial center, marrying with the nation’s focus on eco-responsible and conscious development.
For 3iQ, it adds to its footprint in Asia and helps broaden its institutional digital asset offerings beyond exchange traded investment products. The company was established in 2012, creating some of the world’s first regulated crypto investment products, including some of the earliest Bitcoin and Ethereum exchange traded products.
Bhutan literally has been mining in secret with their no shortage of hydropower resources, making them one of the largest sovereign Bitcoin holders in the world. Rather than merely sitting in the vault, the government is looking at ways to get these assets deployed to spur economic development.
The Gelephu initiative is in keeping with that philosophy. The move highlights Bhutan’s aim to build a regulated digital asset landscape that not only draws in foreign investment but also meets sustainability objectives.
Both organizations said this agreement is only the first milestone in a broader roadmap. Additional announcements are expected over the coming months as Gelephu continues building infrastructure designed to support institutional digital asset funds, investment firms, and blockchain-focused financial services.
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