$180M Bitcoin Trust Completes Canadian IPO on First Day, Fully Invested

The C$230 million (US$180 million) initial public offering of its now fully invested crypto-currency fund was completed by Canadian investment firm Ninepoint Partners.

• On Wednesday, the Ninepoint Partners bitcoin fund began trading, with over 99 percent invested on its first trading day.

• In both U.S. dollars and Canadian dollars, the bitcoin fund is available and is listed on the Toronto Stock Exchange under the symbols "BITC.U" and "BITC.UN."

• The fund will have the lowest management fee structure for a listed bitcoin vehicle in Canada, according to Ninepoint.

• Based on the' MVIS CryptoCompare Institutional Bitcoin Index' managed by MV Index Solutions GmbH, which is a wholly owned subsidiary of Van Eck, the bitcoin held by the fund is valued.

Source: https://support.bityard.com/hc/en-us/articles/900005270403-Blockchain-News-180M-Bitcoin-Trust-Completes-Canadian-IPO-on-First-Day-Fully-Invested