blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
BET NOW
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
BET NOW
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

First Block’s Bitcoin Trust Fund Achieves Mutual Fund Trust Status, Now Available on NEO Connect

Ogwu Emmanuel by Ogwu Emmanuel
September 12, 2018 - 6:00 am
in blockchain news
0
First Block’s Bitcoin Trust Fund Achieves Mutual Fund Trust Status, Now Available on NEO Connect
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Canada’s only regulated bitcoin fund, FBC Bitcoin Trust, which is exclusive to accredited investors only, is now a mutual trust fund, and interested investors can purchase it on NEO Connect, reported  Business Wire on September 10, 2018.

FBC Bitcoin Trust Now Live on NEO Connect

First Block Capital Inc., has announced that its FBC Bitcoin Trust which is open to accredited investors only, is now a mutual trust fund and holders can put units of it in their self-directed Tax Free Savings Accounts (TFSA) and their Registered Retirement Savings Plans (RRSP).

Additionally, the FBC Bitcoin Trust is now live on the NeoConnect trading platform, and investment advisors can now purchase and redeem the FBC Bitcoin Trust for their qualified clients with the ticker, FBCBT.

On the NEO Connect platform, investors can leverage the daily settlement mechanism, eliminating the previous 30-day redemption system.

The FBC Bitcoin Trust Advantage

First Block Capital Inc. claims to offer accredited investors an investment vehicle that gives them exposure to the world’s flagship cryptocurrency, bitcoin, without them having to hold, acquire or manage the super volatile cryptoassets.

Per Business Wire, FBC Bitcoin Trust is the only product of its kind that has gained the approval of the British Columbia Securities Commission (BCSC) and the Ontario Securities Commission (OSC). The trust units are categorized as qualified investment for a mutual fund trust under the Canadian Tax Act, as the fund has attracted more than 150 unit holders within 12 months of its creation.

“Since inception, First Block Capital has been committed to providing investors with regulated, titled and auditable exposure to investment vehicles based on blockchain and cryptocurrency,” said Sean Clark, Co-Founder and CEO of First Block.

Co-founder and Chief Investment Officer of First Block, Marc van der Chijs, also reiterated that the firm’s latest accomplishment would motivate them to keep putting Canada at the frontline of the cryptocurrency and blockchain revolution via their investment vehicles. 

Chijs concluded,

“Our goal is to make investments in the digital currency asset class more accessible, and we are one step closer to achieving this goal by allowing unit holders to place units in government sponsored tax efficient vehicles, and by providing daily liquidity through NEO Connect, a fund distribution platform with a rapidly growing dealer network.” 

While the First Block initiative is an excellent move in the right direction for the Canadian cryptospace, the global digital assets industry is yet to have a regulator-approved cryptocurrency ETF, and it appears that won’t be happening anytime soon.

In August 2018, reports emerged that the US SEC had rejected the Bitcoin ETF filings of NYSE Arca and the Cboe BZX Exchange, citing their failure to meet the necessary listing requirements.

 

Tags: BTCCryptocurrencyNEO
ShareTweet
Ogwu Emmanuel

Ogwu Emmanuel

Ogwu is a Nigeria-based blockchain analyst focussing on the regulatory implications of governments in the cryptocurrency industry. He writes regularly for several cryptocurrency-focussed news sites.

Recommended For You

EOS EVM v0.5.0 Launches, Facilitating Yield+ Liquidity Mining on EOS EVM

by Mushu Butt
May 31, 2023 - 1:12 pm
0
eos evm

EOS EVM v0.5.0 release brings Yield+ Liquidity Mining to the EOS ecosystem. A major milestone for EOS, showcasing rapid development and growth.

Read more

Anoma Secures $25 Million to Propel Third-Generation Intent-Centric Architecture

by Mushu Butt
May 31, 2023 - 1:00 pm
0
anoma foundation

The Anoma Foundation has triumphantly concluded a $25 million fundraising campaign to fuel the advancement of Anoma's intent-centric architecture.

Read more

The Future of Centralized Stablecoins: Die, Thrive, or Change?

by Max Clark
May 31, 2023 - 11:01 am
0
Stablecoins

Explore the tumultuous future of centralized stablecoins amidst increasing regulation, market turbulence, and evolving practices.

Read more

Deutsche Telekom Announces Integration with Polygon Blockchain, Becomes One of the Top 100 Validators

by Shayan Chowdhury
May 31, 2023 - 9:29 am
0
telekom polygon

Deutsche Telekom joins Polygon as a validator, bolstering blockchain technology's growth and mainstream adoption.

Read more

Tenet Joins Forces with LayerZero to Drive Omnichain Adoption of LSDs

by Mushu Butt
May 30, 2023 - 4:00 pm
0
layerzero

Layer-1 ecosystem Tenet partners with LayerZero to boost omnichain adoption of LSDs, enhancing its accessibility in the broader blockchain ecosystem.

Read more
Next Post
china

China Set To Transform Social Charity Tracking using Blockchain

PARTNERS LIST

  • sp

PRESS RELEASE

imageedithAICLCD

Bumper’s Breakthrough DeFi Protocol Set to Reshape Options Pricing

by Chainwire
May 31, 2023 - 2:06 pm
0

London, United Kingdom, May 31st, 2023, ChainwireMarking a seismic shift in the digital asset landscape, DeFi platform Bumper today unveiled...

photoy

Ripple (XRP) Price Prediction – Ripple (XRP) Struggles to Hold Leading Position with HedgeUp (HDUP) and Solana (SOL) Covering Crypto Ground

by Max Clark
May 31, 2023 - 12:51 pm
0

Explore the high-stakes world of cryptocurrencies as Ripple (XRP) fights to maintain its leading position against rising contenders, HedgeUp (HDUP)...

tms network tmsn

TMS Network (TMSN) Makes Market Bullish with 3000% Gains While Kava (KAVA) Price Surges 40%

by Josh Fernandez
May 31, 2023 - 11:22 am
0

Discover the latest trends in the cryptocurrency market where TMS Network (TMSN) stuns with a 3000% growth in presale, making...

MZInvestDOjSBpFmtG

MetaZone Secures Funding to Expand the World’s First Tokenized App Platform for the Metaverse

by Chainwire
May 30, 2023 - 3:22 pm
0

Singapore, Singapore, May 30th, 2023, ChainwireMetaZone announced today the completion of its US$3 million seed round co-led by metaverse industry...

n

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise