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Canadian authorities have announced that they have authorized the launch of the world’s first Bitcoin exchange fund, giving retail investors greater access to this burgeoning digital currency.
And the “Ontario Securities Commission”, which oversees the Toronto Stock Exchange, has given its approval to launch this traded index fund, which was proposed by “Burbus Investments, Inc.” the agency (AFP).
A spokesperson for the committee said the fund would be listed on the stock exchange “as early as next week” under the slogan “PTCC”.
For its part, the company said that “this traded index fund will be the first in the world to invest directly in the Bitcoin currency” which is based on financial backing “and not on derivatives, thus providing investors with easy access and effective to the emerging electronic currency asset class without the risks associated with digital wallets. “.
The Gemini Trust cryptocurrency platform will be the sub-supervisor of the fund which will be managed by Canadian CIBC Mellon Global Securities.
Bitcoin was launched in 2009 and was not very valuable at first, but its price topped $ 45,000 this week, buoyed by electric car maker Tesla’s announcement of a significant $ 1.5 billion investment in the first digital currency, stressing that it intends to accept this currency as a means of payment.
Canadian and US companies have attempted unsuccessfully in recent years to launch similar funds for Bitcoin.
Several of them, in recent weeks, have made initial offers to the Ontario Securities Commission and the United States Securities and Exchange Commission for listing.
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