3iQ, a Canadian digital asset manager, has secured a strategic mandate to manage a portion of the Bitcoin treasury for Gelephu Mindfulness City (GMC), Bhutan's Special Administrative Region. The partnership advances Bhutan's broader vision of establishing itself as a global hub for institutional cryptocurrency finance.

3iQ Selected to Manage Part of Bhutan's Bitcoin Treasury

On July 30, 3iQ announced that it had entered into a strategic partnership with GMC to help build a next-generation digital asset investment ecosystem. Under the agreement, 3iQ will manage a dedicated mandate involving a portion of the Bitcoin fund's treasury. Neither party disclosed the exact allocation size.

The mandate forms part of Bhutan's overall digital asset policy, which was first revealed in late 2025. Bhutan had previously disclosed plans to deploy up to 10,000 BTC from its national Bitcoin reserves toward the development of Gelephu Mindfulness City. This new joint venture represents a progression from the reserve allotment stage to the institutional asset management stage of that project.

3iQ stated that it was selected for its track record of serving institutional investors and its extensive experience managing regulated digital asset investment products.

Building an Institutional Digital Asset Hub

3iQ's role will extend well beyond serving as an external investment manager. The firm plans to establish a long-term presence in Gelephu, investing in local talent, providing technology education, and sharing its expertise with other businesses to promote digital finance throughout Bhutan.

A central goal of the partnership is to construct an institutional-grade ecosystem capable of attracting international asset managers, investment firms, and blockchain specialists. According to GMC officials, the initiative combines international financial expertise with Bhutan's vision for sustainable growth and development.

Gelephu is integrating blockchain technology as it positions itself to become a digital offshore financial center, aligning with the nation's emphasis on eco-responsible and conscious development. The city was established as a Special Administrative Region by royal decree, giving it governance flexibility similar to zones in other countries that have used special economic status to build financial centers from the ground up.

For 3iQ, the partnership expands its footprint across Asia and broadens its institutional digital asset offerings beyond exchange-traded investment products. Founded in 2012, 3iQ created some of the world's first regulated crypto investment products, including early Bitcoin and Ethereum exchange-traded products.

Bhutan's Long-Term Crypto Strategy

Bhutan has been quietly mining Bitcoin for years using its abundant hydropower resources, making the country one of the largest sovereign Bitcoin holders in the world. Rather than allowing these assets to remain idle, the government is exploring ways to deploy them strategically to spur economic development. Bhutan's approach places it alongside a small but growing group of sovereign actors integrating Bitcoin into national economic planning, a space that has drawn increasing global attention since El Salvador adopted Bitcoin as legal tender in 2021.

The Gelephu initiative reflects this philosophy, highlighting Bhutan's aim to build a regulated digital asset landscape that attracts foreign investment while meeting sustainability objectives.

Both organizations described the agreement as only the first milestone in a broader roadmap. Additional announcements are expected in the coming months as Gelephu continues building infrastructure designed to support institutional digital asset funds, investment firms, and blockchain-focused financial services.