$180M Bitcoin Trust Completes Canadian IPO, Fully Invested on First Day

Canadian investment firm Ninepoint Partners completed the C$230 million (US$180 million) initial public offering of its cryptocurrency fund which is now fully invested.

• Ninepoint Partners bitcoin fund started trading on Wednesday was over 99% invested on its first day of trading.
• The bitcoin fund is available in both U.S. dollars and Canadian dollars and is listed on the Toronto Stock Exchange under the symbols “BITC.U” and “BITC.UN.”
• According to Ninepoint, the fund will have the lowest management fee structure for a listed bitcoin vehicle in Canada.
• The bitcoin held by the fund is valued based on the “MVIS CryptoCompare Institutional Bitcoin Index” managed by MV Index Solutions GmbH which is a wholly-owned subsidiary of Van Eck.

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