Toronto Stock Exchange (TSX) has added the Bitcoin Fund closed-end investment fund from 3iQ Asset Manager to its listing.
The fund allows investors to access bitcoin on a par with regulated asset classes.
iHodl Russia has learned that an index jointly developed by the European division of VanEck and CryptoCompare is used to determine the price of bitcoin.
The fund shares are divided into two classes: 'A' for all investors and 'F' for financial institutions. Only the 'A' class is presented on the TSX exchange. 3iQ CEO Fred Pye said the total value of the 'A' class shares is about $14 million.
The 3iQ Bitcoin Fund is primarily aimed at investors who cannot or do not want to own bitcoins but want to capitalize on changes in the cryptocurrency rate.
"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," he said.
3iQ said they had sought fund approval from the Ontario Securities Commission for three years.
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