RATE Group | Bitcoin Mutual Fund Launches in Canada
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Bitcoin Mutual Fund Launches in Canada

10 Sep Bitcoin Mutual Fund Launches in Canada

Posted at 22:50h in Bitcoin News by

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cryptocurrency bitcoin canada

First Block Capital Inc., a Canadian cryptocurrency and blockchain investment company, has announced that its bitcoin trust, FBC Bitcoin Trust, has achieved mutual fund status in Canada, allowing investors to place funds in registered accounts such as a Tax Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP).

The trust is available on NEO Connect, a fund distribution platform, under the ticker FBCBT, and is available to accredited investors only. Advisors can trade the fund with the same efficiency and ease as trading ETFs.

NEO Connect allows daily settlements, removing the previous 30-day redemption clause.

Simplifying Market Exposure

“At First Block, we provide investment exposure to bitcoin by removing the complicated barriers to investing directly in the cryptocurrency,” Sean Clark, CEO and co-founder of First Block, said in a prepared statement. “As the market leader in providing investment vehicles based on blockchain and cryptocurrency in…

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