Canadian Bitcoin Trust Created

Announcements, FinTech, Group, Investing, News, Regulation | July 21, 2017 By:

First Block Capital, in partnership with Canadian online investment platform FrontFundr, is starting the Canadian Bitcoin Trust, providing eligible investors with a convenient way to invest in bitcoin.

First Block Capital Inc. is a Canadian investment firm founded by global entrepreneurs committed to providing investment exposure to the emerging digital currency asset class based on blockchain technology.

The Canadian Bitcoin Trust is an open-ended unit trust established under the laws of British Columbia. The trust’s business activities involve raising capital through the issuance of trust units and investing the capital raised in accordance with the trust’s investment objective.

The investment objective of the trust is to track the market price of bitcoin, less the trust’s liabilities and expenses, by investing the assets of the trust in bitcoin. The only investments of the trust will be direct investments in bitcoin.

First Block Capital said that some key advantages of the Canadian Bitcoin Trust are exposure to a new digital currency asset class and to an asset class that is non-correlated to traditional markets. The company aims to help investors capture the value of disruptive technologies based on the blockchain through FrontFundr.

FrontFundr allows all levels of investment into the trust starting at $500. An investment in units of the trust is available on a private placement basis to eligible Canadian investors pursuant to exemptions from applicable prospectus requirements (specifically, the “offering memorandum” exemption under National Instrument 45-106).

“With cryptocurrency poised to become a new asset class, Canadian Bitcoin Trust is the first opportunity for all Canadians to be able to invest in bitcoin securely,” said FrontFundr CEO Peter-Paul Van Hoeken. “FrontFundr is thrilled to bring this opportunity to the larger investor community, democratizing investment in crypto-currency for all Canadians.”