Canada approves bitcoin ETF

Canada approves bitcoin ETF


Afp February 14, 2021

OTTAWA:

Canada’s main securities regulator has cleared the launch of the world’s first exchange-traded bitcoin fund, the investment manager and the regulator said, giving retail investors greater access to the booming cryptocurrency.

The Ontario Securities Commission gave Purpose Investments Inc the nod to roll out the Purpose Bitcoin ETF (exchange-traded fund) on the Toronto Stock Exchange. It is to start trading under the ticker BTCC “as early as next week,” a company spokesman told AFP.

“The ETF will be the first in the world to invest directly in physically settled bitcoin, not derivatives, allowing investors easy and efficient access to the emerging asset class of cryptocurrency without the associated risk of self-custody within a digital wallet,” the asset management company said in a statement.

Gemini Trust Company will be sub-custodian for the fund, while CIBC Mellon Global Securities Services will administer it.

Published in The Express Tribune, February 14th, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read