RATE Group | Canada Gets Its First Bitcoin-Linked Mutual Fund Trust
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Canada Gets Its First Bitcoin-Linked Mutual Fund Trust

13 Sep Canada Gets Its First Bitcoin-Linked Mutual Fund Trust

Posted at 02:42h in Bitcoin News by

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Canadian investors are about to get in the real game. This is after First Block Capital Inc (FBC) was given the go-ahead by the Ontario Securities Commission (OSC) and the British Columbia Securities Commission (BCSC) to operate under the privileged status of an approved mutual fund trust.  FBC is an investment company focused on the blockchain technology.

What It Means For Investors

The mutual fund trust status means that investors can now keep their funds in a Registered Retirement savings Plan (RRSP) account or a Tax-Free Savings Account (TFSA). However, FBC says that, at the moment, the new service is only accessible to accredited investors. As such, the investors will enjoy the tax benefits that come with the specific accounts, especially for purposes of building savings or a retirement plan. NEO Connect will be the funds distribution platform for the new trust.

In a statement, the co-founder and current CEO of First Block, Sean Clark, said that FBC aims to eliminate the…

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