Ninepoint Files Its Final Prospectus For A Bitcoin ETF - Official.
2021-04-29 | Selina Mathew
After putting the
interest a vote amongst the unitholders of its Bitcoin trust, Toronto-based investment manager Ninepoint Partners has filed its final prospectus for a Bitcoin ETF [Exchange-Traded Fund].
In line with an official announcement from Ninepoint today, the securities regulatory authorities in each of
the 10 provinces
and 3 territories of Canada have acknowledged receipt for its application
to determine a Bitcoin [
BTC] ETF [Exchange-Traded Fund]. The firm added earlier in March that
it might permit its unitholders to vote on whether to convert its existing BTC trust to a Bitcoin ETF on the Toronto
Stock Market, or TSX.
Ninepoint is aiming for the BTC trust to be converted to a Bitcoin ETF starting next Thursday, later on, 6
th May, subject to regulatory and
stock market approvals. Should
the application achieve success, the Ninepoint Bitcoin ETF would trade on the TSX under the ticker symbols used for its Bitcoin trust: BITC.U for USD. However, the firm will shorten the BITC.UN ticker for the trust’s units in Canadian dollars to BITC for the ETF.
Canadian regulators have given the green light
to several firms applying for cryptocurrency ETFs this year, along with offerings from investment fund manager 3iQ, Purpose Investments, Evolve Funds Group, and CI Global Asset Management. However, yesterday
within the United States SEC [Securities and Exchange Commission]
delayed its decision to approve or disapprove a Bitcoin ETF registration from asset manager VanEck.
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