Largest Canadian Bitcoin ETF Opens to Mutual Fund Investors
Purpose Investments, an institutional firm with more than $12 billion under management, on Wednesday announced the launch of mutual fund units for the world’s first ETF backed and settled by Bitcoin.Purpose Investments, an institutional firm with more than $12 billion under management, on Wednesday announced the launch of mutual fund units for the world’s first ETF backed and settled by Bitcoin. “We’re happy to provide another easy and secure way for Canadian investors to gain exposure to Bitcoin,” said CEO and founder Som Seif. Mutual funds that allow investors exposure to Bitcoin have....
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Asset management firm Stone Ridge has filed with the U.S. Securities and Exchange Commission (SEC) for its open-end mutual fund to invest in bitcoin. “This is a big deal. Stone Ridge filing opens the door for every mutual fund to add bitcoin,” said a fellow asset manager. Stone Ridge Wants Its Mutual Fund to Invest in Bitcoin Stone Ridge Trust filed Form N-1A with the U.S. Securities and Exchange Commission (SEC) last week. The filing, which is expected to become effective on April 26, relates to the Stone Ridge Diversified Alternatives Fund. The fund “seeks to generate....
In a recurring theme to confirm the financial industry’s collective fawning of blockchain technology – the distributed ledger that underpins Bitcoin – five of the UK’s biggest mutual fund giants are collectively exploring blockchain applications. The motivation? Cutting billions of pounds in trading costs. A report in the Financial Times revealed that Schroders and Aberdeen Asset Management, the second and third-largest mutual fund operators in Europe by assets, have initiated a largely unknown blockchain project. The project also sees Aviva Investors, Columbia Threadneedle Investments and....
Mutual funds in Russia will not be allowed to provide crypto exposure to qualified or unqualified investors. The Russian central bank continues its strict policies regarding the cryptocurrency industry, now officially banning mutual funds from investing in cryptocurrencies like Bitcoin (BTC).On Dec. 13, the Bank of Russia published an official statement on regulating investment opportunities by mutual investment funds.Despite expanding the number of assets available for investment by mutual funds, the document prohibits fund managers from buying cryptocurrencies as well as “financial....
Holding such ETFs in registered accounts can either entirely offset or reduce capital gains tax liabilities for Canadian customers. On Thursday, Fidelity Canada officially launched the Fidelity Advantage Bitcoin exchange-traded fund (ETF) and the Fidelity Advantage Bitcoin ETF Fund (mutual fund), marking the first such assets to be made available in the country and confirming earlier reports on the matter. The funds have the tickers FBTC and FBTC.U, denominated in Canadian and United States dollars, and are listed on the Toronto Stock Exchange. Fidelity's Bitcoin ETFs seek to track the....
Just weeks after opening a Bitcoin (BTC) exchange-traded fund, Evolve Fund has opted to file for a similar ETF product based on Ethereum (ETH). With $1.7 billion assets under management, Evolve is a Canadian-based ETF provider that specializes in “bringing disruptive innovation ETFs to Canadian investors.” Just a month prior, Evolve Funds scored an approval from the Canadian government to proceed with listing their Bitcoin ETF on the Toronto Stock Exchange. Found under ticker EBIT.TO, […]