It is pertinent to bring more positive – and mainstream – attention to Bitcoin and other cryptocurrencies. The Toronto Stock Exchange has listed The Bitcoin Fund, which is a surprising turn of events.
There have been rumors regarding The Bitcoin Fund for some time now.
Prime Exposure for The Bitcoin Fund
It is a Canadian closed-end fund providing investors with exposure to Bitcoin as a regulated asset class.
Similar to most other countries, Bitcoin regulation in Canada still leaves much to be desired.
By taking this particular approach, The Bitcoin Fund bypasses a lot of red tape, while still bringing more attention to the world’s leading cryptocurrency.
Initially, the goal was to get The Bitcoin Fund listed on TSX in October of 2019.
That deadline couldn’t be met, as it took until this week before everything was in order.
This fund is very similar to exchange-traded products, as investors purchase shares in the fund.
There will be no physical transfer of Bitcoin assets at any given moment.
What is remarkable is how the fund has two types of shares, one for investors and one for institutions.
As such, it can attract a lot of major attention in Canada.
How any of this will affect the value of Bitcoin in that country, as well as the rest of the world, remains to be seen.