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

[Cordillerabit]

"The bitcoin fund is available and listed on the Toronto Stock Exchange in both U.S. dollars and Canadian dollars.

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: Bityard