Topic: Canadian Regulator Green-Lights Bitcoin Fund IPO - page 2. (Read 288 times)
Well, this already paves the way for a lot of investors to become exposed to BTC, they just have to take a small step right now. When compared to the past of BTC investment, this already shows a promising involvement, unlike when BTC had a serious amount of risks that are involved in it when investing. Plus, this could bring positive development with crypto replacing fiat currency right now. We can only wait and see if it manages to bring the results we want though.
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.
Nice, this is the kind of adoption that really make impact in the market. If major hedge funds will do this then we might expect good prices. Slowly regulators are seeing the light side of Bitcoin as an investment for institutional investors.
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.
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