Cryptocurrency
Regulated Bitcoin Fund Coming to Canada Following Battle with Securities Commission
News BTC reports, “Retail investors in Canada will soon be able to get exposure to Bitcoin through a fully-regulated, closed-end fund. The world first, as it is being described, is the result of a battle between fund manager 3iQ and the Ontario Securities Commission. “The imaginatively-titled ‘The Bitcoin Fund’ should be available to Canadian retail […]
News BTC reports, “Retail investors in Canada will soon be able to get exposure to Bitcoin through a fully-regulated, closed-end fund. The world first, as it is being described, is the result of a battle between fund manager 3iQ and the Ontario Securities Commission.
“The imaginatively-titled ‘The Bitcoin Fund’ should be available to Canadian retail investors later this year. It is expected to be listed for trading on a major Canadian stock exchange.
“According to a press release from 3iQ, the Ontario Securities Commission (OSC) approved the new fund earlier today. Having been rejected by the regulator in February, the company launched an appeal. It claimed that it would be following current regulatory guidelines for custody, pricing of the asset (BTC) itself, and the auditing process…”