Toronto Stock Exchange has recently added the Bitcoin Fund closed-end investment fund, permitting regular investors to access BTC as easily as they can access regulated asset classes. The aforementioned fund is launched by digital asset fund manager, 3iQ.
It is to be noted that the index is cooperatively developed by CryptoCompare and the European division of VanEck and is used to determine the price of bitcoin.
The shares of the fund shares are divided into 2 primary classes. Class ‘A’ is for all investors and Class ‘F’ is for financial institutions. Only the ‘A’ class is offered on the Toronto Stock Exchange.
Fred Pye, the CEO of 3iQ, mentioned that the entire value of the ‘A’ class shares is around fourteen million USD. The 3iQ Bitcoin Fund is mainly intended for investors who don’t want to own bitcoins but want to capitalize on variations in the price of the virtual asset.
He further added,
“It is tough to launch such a unique offering during a period where investors are worried about their health and protection of capital. However, long-term protection of purchasing power is what bitcoin is all about.”
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