“The Canadian Bitcoin Trust is an open-ended unit trust that enables investors to get exposure to the price of Bitcoin without having to worry about buying and securing Bitcoin, which has been a challenge for investors,” First Block Capital cofounder Sean Clark, said.
Mr. Clark and cofounder Marc van der Chips partnered with Canadian online investment platform FrontFundr to offer investments in the trust beginning at $500.
“An investment in units of the trust is available on a private placement basis to eligible Canadian investors pursuant to exemptions from applicable prospectus requirements (specifically, the “offering memorandum” exemption under National Instrument 45-106),” the company said in a release.
“With cryptocurrency poised to become a new asset class, Canadian Bitcoin Trust is the first opportunity for all Canadians to be able to invest in Bitcoin securely,” said Peter-Paul Van Hoeken, CEO of FrontFundr. “FrontFundr is thrilled to bring this opportunity to the larger investor community, democratizing investment in crypto-currency for all Canadians.”