Topic: Canadian Regulator Green-Lights Bitcoin Fund IPO (Read 289 times)
That's really a piece of good news for Bitcoin and another cryptocurrency, I think people will get encouraged by this step because of government agency's signal, It's like a green signal to move on, so another country should learn the positive thing regarding this issue, Canada is the country which is the cryptocurrency-friendly from the very beginning of this new invention so this type of step could trigger up of the people's motivation towards this blockchain-based industry, I believe it's a new beginning of this window and in this way, many countries will find a good solution to this purpose very soon and the mass adoption will get established also.
Feedback is very important. Will states issue their own digital money? I don't believe that. Now this system in banks already exists. There's a system of numbers. Everything is digital. I don't believe they're going to create money integrated into Blockchain technology. Because they could lose control. A different currency can crush them. They can be defeated for money without a state.
Good thing in general, for adoption and publicity of Bitcoin. Things are looking our way with recent news coming up. However, it still does not solve one problem, or for me at least, that Bitcoin is mostly used as a speculative asset rather than its main, foremost objective, as a medium of payment. Nevertheless, small steps like these contribute to Bitcoin's progress to success and soon enough, we might see Bitcoin in real action a few years from now.
The question is completely off-topic, but still, I’ll ask!
Guys, Is it worth taking microcredit for an investment that I am sure of? https://prestamos365.mx offers almost zero loans, so I'm thinking of taking an adventure like that.
What do you think? Maybe you know more similar organizations?
Guys, Is it worth taking microcredit for an investment that I am sure of? https://prestamos365.mx offers almost zero loans, so I'm thinking of taking an adventure like that.
What do you think? Maybe you know more similar organizations?
The next revolutionary development is decentralized interoperability between networks so that we don't need centralized platforms anymore.
We'll always need centralized platforms, if only for pooling fiat liquidity. There will never be a time when the whole world is using platforms like Bisq to trade in/out of fiat.
Don't forget that the sentiment years ago was fuck governments we don't need them, and in the more recent times people suddenly look forward to wall street, governments getting involved, etc. 
I think people see two binary outcomes: either their government cracks down on crypto, or it welcomes it and legacy finance gets on board.
I certainly don't look forward to US government regulation and Wall Street involvement, but it's better than the outright prohibitions we've seen in more authoritarian countries.
It would be funny if Canada developed into a cryptocurrency centre, drawing money away from Wall Street!
Not going to happen. I'm honestly not that confident in crypto at all, mainly so with how decentralization isn't necessary in each industry. It's being advertised as such because it sounds great and attracts a lot of capital from investors, but when you zoom out and look at the problems that have to be solved, decentralization isn't it in most cases.
Bitcoin is the digital equivalent of Gold. It can be saved and spent easily in the lowest values through Lightning. The next revolutionary development is decentralized interoperability between networks so that we don't need centralized platforms anymore. Isn't that much better than hoping for x/y/z country to be the crypto capital of the world? Definitely for me.
Don't forget that the sentiment years ago was fuck governments we don't need them, and in the more recent times people suddenly look forward to wall street, governments getting involved, etc.
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The Bitcoin Fund is a closed-end investment fund
Yawn. Closed-end generally means the unit capital is fixed and additional shares won't be issued after the initial offering. Basically, investors can only buy a piece of the existing trust. No share issuing and redemption like the ETF applications we've seen.
Open-ended funds are more interesting since high demand for the securities would warrant the trustee issuing new shares. To do so, they would need to buy the underlying BTC on the open market, driving spot prices upwards.
Thanks, for the insights, I have no idea about closed-end funds but after all, this is another form of adoption of bitcoin. I am excited that news like this is given importance and publicized since this is a piece of positive news for crypto community.
I hope several companies should do like this or the one you have suggested. It is better than bitcoin is being utilized.
We cannot tell with exact precision what will happen from this point onward, whether the investors would take this as a sound investment and buy or they will remain doubtful of the future price of Bitcoin. What is sure at this moment is that Bitcoin has earned another star in its collar. This means the Canadian regulators have trusted in Bitcoin for allowing it to be integrated in the investment operations in their jurisdiction.
This is a good sign for bitcoin to build a strong foundation not just with Canada, but also for other neighboring countries. As this spread out great feedback and outcome, many of the fellow country will also implement digital currency on their particular assets. However, we needed to be more careful and more vigilant this time, because scammers also do their own moves to penetrate the safesty of cryptocurrency.
We cannot tell with exact precision what will happen from this point onward, whether the investors would take this as a sound investment and buy or they will remain doubtful of the future price of Bitcoin. What is sure at this moment is that Bitcoin has earned another star in its collar. This means the Canadian regulators have trusted in Bitcoin for allowing it to be integrated in the investment operations in their jurisdiction.
The Bitcoin Fund is a closed-end investment fund established as a trust under Ontario’s laws, the company explained, adding that “the units will be an eligible qualified investment for registered investment accounts.” The fund’s investment objectives are to provide investors with long-term capital appreciation and exposure to bitcoin and its daily price movement in USD, the announcement details.
In other words this is a listed investment trust devoted to bitcoin. Now we wait to see if all the hedge funds and so on decide to buy shares to get exposure to bitcoin in a regulated way.
In other words this is a listed investment trust devoted to bitcoin. Now we wait to see if all the hedge funds and so on decide to buy shares to get exposure to bitcoin in a regulated way.
We are seeing many good developments with introduction of different platforms that can pave the way for institutional investors to be adopting Bitcoin and cryptocurrency. Just like the introduction of Bakkt, we should never expect that the response for this Bitcoin Fund can be amazing as things can start minimal but will eventually be picking up later. This IPO is a good sign that we are slowly moving into the right direction. Amidst the negative reaction to the crackdown by China on cryptocurrency-related business operations within its territory, we should get our attention to other countries who are bringing us better news that can be serving the long-term potential of this digital asset.
With the latest row between president Trump and Prime minister Trudeau in London, Canada could need to further integrate crypto to stay away from economical bargaining from the US. Crypto is the way for financial freedom.
It would be funny if Canada developed into a cryptocurrency centre, drawing money away from Wall Street!
https://news.bitcoin.com/canadian-regulator-green-lights-bitcoin-fund-ipo/
In other words this is a listed investment trust devoted to bitcoin.
Now we wait to see if all the hedge funds and so on decide to buy shares to get exposure to bitcoin in a regulated way.
This is definitely good news for the crypto community and we will see lots of new money flowing into this market again. If there are more and more Bitcoin Funds, I believe that this halving event will increase the price very strongly. Do you see that?Quote
Crypto-focused Canadian investment fund manager 3IQ Corp. announced on Thursday that it has filed a preliminary prospectus for the IPO of The Bitcoin Fund. More importantly, the prospectus dated Nov. 27 has been receipted by the Ontario Securities Commission (OSC) after previously rejecting it. The IPO will offer two classes of units at $10 each.
The Bitcoin Fund is a closed-end investment fund established as a trust under Ontario’s laws, the company explained, adding that “the units will be an eligible qualified investment for registered investment accounts.” The fund’s investment objectives are to provide investors with long-term capital appreciation and exposure to bitcoin and its daily price movement in USD, the announcement details.
The Bitcoin Fund is a closed-end investment fund established as a trust under Ontario’s laws, the company explained, adding that “the units will be an eligible qualified investment for registered investment accounts.” The fund’s investment objectives are to provide investors with long-term capital appreciation and exposure to bitcoin and its daily price movement in USD, the announcement details.
In other words this is a listed investment trust devoted to bitcoin.
Now we wait to see if all the hedge funds and so on decide to buy shares to get exposure to bitcoin in a regulated way.
The reason is because many financial institutions believe that the price of bitcoin will definitely increase and they deplete money into the market to buy lots of bitcoins and holdings, then there will be price pushes and they will sell for profit.
https://news.bitcoin.com/canadian-regulator-green-lights-bitcoin-fund-ipo/
In other words this is a listed investment trust devoted to bitcoin.
Now we wait to see if all the hedge funds and so on decide to buy shares to get exposure to bitcoin in a regulated way.
Quote
Crypto-focused Canadian investment fund manager 3IQ Corp. announced on Thursday that it has filed a preliminary prospectus for the IPO of The Bitcoin Fund. More importantly, the prospectus dated Nov. 27 has been receipted by the Ontario Securities Commission (OSC) after previously rejecting it. The IPO will offer two classes of units at $10 each.
The Bitcoin Fund is a closed-end investment fund established as a trust under Ontario’s laws, the company explained, adding that “the units will be an eligible qualified investment for registered investment accounts.” The fund’s investment objectives are to provide investors with long-term capital appreciation and exposure to bitcoin and its daily price movement in USD, the announcement details.
The Bitcoin Fund is a closed-end investment fund established as a trust under Ontario’s laws, the company explained, adding that “the units will be an eligible qualified investment for registered investment accounts.” The fund’s investment objectives are to provide investors with long-term capital appreciation and exposure to bitcoin and its daily price movement in USD, the announcement details.
In other words this is a listed investment trust devoted to bitcoin.
Now we wait to see if all the hedge funds and so on decide to buy shares to get exposure to bitcoin in a regulated way.
With the latest row between president Trump and Prime minister Trudeau in London, Canada could need to further integrate crypto to stay away from economical bargaining from the US. Crypto is the way for financial freedom.
https://news.bitcoin.com/canadian-regulator-green-lights-bitcoin-fund-ipo/
In other words this is a listed investment trust devoted to bitcoin.
Now we wait to see if all the hedge funds and so on decide to buy shares to get exposure to bitcoin in a regulated way.
Quote
Crypto-focused Canadian investment fund manager 3IQ Corp. announced on Thursday that it has filed a preliminary prospectus for the IPO of The Bitcoin Fund. More importantly, the prospectus dated Nov. 27 has been receipted by the Ontario Securities Commission (OSC) after previously rejecting it. The IPO will offer two classes of units at $10 each.
The Bitcoin Fund is a closed-end investment fund established as a trust under Ontario’s laws, the company explained, adding that “the units will be an eligible qualified investment for registered investment accounts.” The fund’s investment objectives are to provide investors with long-term capital appreciation and exposure to bitcoin and its daily price movement in USD, the announcement details.
The Bitcoin Fund is a closed-end investment fund established as a trust under Ontario’s laws, the company explained, adding that “the units will be an eligible qualified investment for registered investment accounts.” The fund’s investment objectives are to provide investors with long-term capital appreciation and exposure to bitcoin and its daily price movement in USD, the announcement details.
In other words this is a listed investment trust devoted to bitcoin.
Now we wait to see if all the hedge funds and so on decide to buy shares to get exposure to bitcoin in a regulated way.
This is a good one though but the concern I am seeing here is how the company would guarantee some appreciation for their subscribers because that would be totally not right except they have a war chest of money that they can use to pay for a guaranteed minimum interest. The issue of volatility which the company is looking to take advantage of is good but at the same time could be worse off and if care is not taken, it could put them under unnecessary pressure to deliver to their clients which might make them to start involving not in the development of the market but to guarantee returns.
This is positive news. The typical mutual fund investors will gradually incorporate Bitcoin into their portfolios which will help the value and bring it to the masses.
Quote
The Bitcoin Fund is a closed-end investment fund
Yawn. Closed-end generally means the unit capital is fixed and additional shares won't be issued after the initial offering. Basically, investors can only buy a piece of the existing trust. No share issuing and redemption like the ETF applications we've seen.
Open-ended funds are more interesting since high demand for the securities would warrant the trustee issuing new shares. To do so, they would need to buy the underlying BTC on the open market, driving spot prices upwards.
https://news.bitcoin.com/canadian-regulator-green-lights-bitcoin-fund-ipo/
In other words this is a listed investment trust devoted to bitcoin.
Now we wait to see if all the hedge funds and so on decide to buy shares to get exposure to bitcoin in a regulated way.
I think this is a fairly normal investment fund because their purpose is still to make profit for investors and there is no reason to oppose it. In my country, many of these mutual funds have been opened and they only trade bitcoin to make a huge profit and the government has no idea.Quote
Crypto-focused Canadian investment fund manager 3IQ Corp. announced on Thursday that it has filed a preliminary prospectus for the IPO of The Bitcoin Fund. More importantly, the prospectus dated Nov. 27 has been receipted by the Ontario Securities Commission (OSC) after previously rejecting it. The IPO will offer two classes of units at $10 each.
The Bitcoin Fund is a closed-end investment fund established as a trust under Ontario’s laws, the company explained, adding that “the units will be an eligible qualified investment for registered investment accounts.” The fund’s investment objectives are to provide investors with long-term capital appreciation and exposure to bitcoin and its daily price movement in USD, the announcement details.
The Bitcoin Fund is a closed-end investment fund established as a trust under Ontario’s laws, the company explained, adding that “the units will be an eligible qualified investment for registered investment accounts.” The fund’s investment objectives are to provide investors with long-term capital appreciation and exposure to bitcoin and its daily price movement in USD, the announcement details.
In other words this is a listed investment trust devoted to bitcoin.
Now we wait to see if all the hedge funds and so on decide to buy shares to get exposure to bitcoin in a regulated way.
I fully support this new type of mutual fund and I hope that in the future many of these mutual funds will be established to create an interesting playground in the crypto market. What do you think ? Our market will grow strongly, right?
If appears many state's around the world are deregulating crypto in an effort to boost economic, GDP and job numbers. The united states however, is denied this option, across the board, in a unilateral fashion. It makes zero sense for american lawmakers and regulators to hate on crypto sectors which provide so many economic and financial benefits. Their end goal would appear to be repressing innovation and progress within their own financial sphere.
Europe has crypto based ETFs while canada enjoys bitcoin IPOs.
File for either in the united states and you'll be 100% denied as it would seem our own leaders are opposed to our nation enjoying the success which crypto offers.
Europe has crypto based ETFs while canada enjoys bitcoin IPOs.
File for either in the united states and you'll be 100% denied as it would seem our own leaders are opposed to our nation enjoying the success which crypto offers.
I am really surprised to see this news coming from Canada! If I am not wrong, Canada's central bank has already imposed a banking ban on crypto related assets! At the same time, a company dealing with cryptos are getting nod to list in national stock exchange! We have seen few instances where Canadian ban has freezed bank accounts of users for allegedly dealing in cryptos. So really confused about this U-turn!
If things are changing for good, then it's a positive news for us! But at the same time, the users need to be extra cautious!
If things are changing for good, then it's a positive news for us! But at the same time, the users need to be extra cautious!
I believe that the company (3IQ) has sought the approval of the securities regulators and that the application for the benefits of the investment basis is mainly submitted to the public.
There are also remaining steps to complete before the final prospectus is received
The admission (issue a receipt for the fund’s prospectus unless new evidence was found to warrant a rejection*) has been under pressure and proving that the cryptocurrency market is large enough. "Real trading volume in the markets."
* Source ---> https://news.bitcoin.com/canadian-regulator-green-lights-bitcoin-fund-ipo/
There are also remaining steps to complete before the final prospectus is received
Particularly, Commissioner Haber’s order reveals that the final prospectus would include additional information regarding the offering such as pricing information and details regarding underwriters. The order further states:
The admission (issue a receipt for the fund’s prospectus unless new evidence was found to warrant a rejection*) has been under pressure and proving that the cryptocurrency market is large enough. "Real trading volume in the markets."
* Source ---> https://news.bitcoin.com/canadian-regulator-green-lights-bitcoin-fund-ipo/
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