A closed-end fund tied to bitcoin has been listed on the Toronto Stock Exchange
Canada’s first fund tied to bitcoin has been listed on the Toronto Stock Exchange (TSX).
Canadian asset supervisor 3iQ in Nov. 2019 filed a prospectus for a regulated fund tied to bitcoin, appropriately dubbed The Bitcoin Fund. It is a closed-end fund aimed to add “exposure to the digital currency bitcoin and the daily price movements of the U.S. dollar price of bitcoin,” in accordance to a earlier press assertion.
On Thursday, the fund listed 5,000,000 Class A shares on the TSX at $10 per share. It makes use of the institutional bitcoin index developed by VanEck Europe subsidiary MV Index Solutions and cryptocurrency market information agency CryptoCompare.
Similar to an exchange-traded product (ETP), the fund will expose shareholders to actions of bitcoin’s worth over time.