Canada's first & only regulated Bitcoin fund launches

posted 5 months ago
Canada’s first regulated Bitcoin fund has been granted mutual fund status. While the US SEC is still working on a Bitcoin fund, Canada has already launched it by approving this Bitcoin trust fund, enabling accredited investors to make an investment in Bitcoin through their retirement savings plan and tax-free savings accounts among others.

Qualified investors gain exposure to BTC through the FBC Bitcoin Trust, but without having to actually acquire, store, and manage the underlying Bitcoin. Marc van der Chijs, the co-founder and CIO of First Block stated “With this accomplishment, we continue to push Canada forward as a world leader in regulated blockchain and cryptocurrency investment vehicles. Our goal is to make investments in the digital currency asset class more accessible...” Consensus is that tax-free exposure to Bitcoin gains is a really great step for crypto.
Tags: bitcoin, news