$180 Million Bitcoin Investment Fund IPOs on Canadian Stock Exchange
Canadian investment management firm Ninepoint has completed an initial public offering (IPO) of its bitcoin fund on the Toronto stock exchange. The company says the offering is the largest IPO of a bitcoin investment fund in Canada to date.Ninepoint Partners announced Wednesday that its Bitcoin Trust has completed an initial public offering (IPO) of CAD$230 million ($180 million). “It is the largest initial public offering of a bitcoin investment fund in Canada to date,” said John Wilson, Ninepoint’s co-CEO and managing partner. The fund’s Class A units are now trading on the Toronto Stock Exchange in both U.S. dollars and Canadian dollars under the symbols BITC.U and BITC.UN respectively. The fund seeks to provide investors with exposure to bitcoin “through an institutional-quality platform that is cost-efficient” to them and “to provide a secure, simpler and exchange-traded investment alternative for buying and holding bitcoin.” The fund invests in BTC directly.
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