RATE Group | Ontario Securities Commission Approves Bitcoin Mutual Fund
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Ontario Securities Commission Approves Bitcoin Mutual Fund

14 Sep Ontario Securities Commission Approves Bitcoin Mutual Fund

Posted at 06:09h in Bitcoin News by

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While the U.S. Securities and Exchange Commission continues to contemplate whether or not to approve a Bitcoin exchange-traded fund (ETF), Canada has taken the plunge. Canadian regulators have approved a regulated Bitcoin trust fund which allows investors to invest in Bitcoin through retirement and savings accounts.

Oh Canada!

Financial Post reports that the Ontario Securities Commission (OSC) and British Columbia Securities Commission (BCSC) have approved First Block Capital Inc. to launch a Bitcoin 00 fund which will be classified as a mutual fund. Investors can now invest in Bitcoin through their registered retirement savings plan (RRSP) and tax-free savings account (TFSA) by making purchases through the NEO Connect platform under the FBCBT ticker.

Canadian regulators have approved a regulated bitcoin trust fund which allows investors to invest in bitcoin through retirement and savings accounts.

Bitcoin Investment Simplified

The fund eases the process of investing in Bitcoin as investors do not have to deal with purchasing, storing, or managing Bitcoins. First Block co-founder and CIO Marc van der Chijs said,

Our goal is…

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