Canadian firm files final prospectus for Bitcoin ETF

Subject to regulatory approval, the asset manager should convert its Bitcoin trust to an ETF starting next week.

After putting the matter to a vote amongst the unitholders of its Bitcoin trust, Toronto-based investment manager Ninepoint Partners has filed its final prospectus for a Bitcoin exchange-traded fund.

According to an announcement from Ninepoint today, the securities regulatory authorities in each of the 10 provinces and 3 territories of Canada have acknowledged receipt for its application to establish a Bitcoin (BTC) exchange-traded fund, or ETF. The firm said in March it would allow its unitholders to vote on whether to convert its existing BTC trust to a Bitcoin ETF on the Toronto Stock Exchange, or TSX.

Ninepoint is aiming for the BTC trust to be converted to a Bitcoin ETF starting next Thursday, May 6, subject to regulatory and stock exchange approvals. Should the application be successful, the Ninepoint Bitcoin ETF would trade on the TSX under the ticker symbols used for its Bitcoin trust: BITC.U for U.S. dollars. However, the firm will shorten the BITC.UN ticker for the trust’s units in Canadian dollars to BITC for the ETF.

Canadian regulators have given the green light to many firms applying for crypto ETFs this year, including offerings from investment fund manager 3iQ, Purpose Investments, Evolve Funds Group and CI Global Asset Management. However, yesterday in the United States the Securities and Exchange Commission delayed its decision to approve or disapprove a Bitcoin ETF registration from asset manager VanEck.
http://dlvr.it/Ryk4vz

You might be interested in …

UFC to launch MMA fan token on Chiliz blockchain

Uncategorized

Debuting in June, the new UFC fan token will have a maximum supply of 20 million. The Ultimate Fighting Championship, the largest mixed martial arts association in the world, is launching its own blockchain-based fan token. The UFC officially announced on Tuesday that it will debut a UFC Fan Token on fan engagement and rewards app […]

Read More

Cardano and Polkadot extend staked capitalization dominance

Uncategorized

While Cardano and Polkadot are extending their staking dominance, Tezos has plummeted from the top ten by staked capitalization. The stakes have been upped for Cardano and Polkadot, with the two networks continuing to dominate the staked capitalization rankings. According to data from StakingRewards, Cardano is currently the top blockchain in terms of staked value, […]

Read More

China social media star Bart Baker to drop 8 NFTs with DeFine Art

Uncategorized

NFT mania is reaching Asia as one of the region’s most popular social media influencers is set to tokenize a series of videos. Baker, who has around 24 million followers across multiple Chinese social media platforms, will auction eight unique NFTs as part of the collaboration. One of the NFTs, called The Bart Baker Experience, […]

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

css.php