Digital asset manager behind Canada's first BTC fund hopes to launch Bitcoin ETF

Galaxy Digital, the crypto investment management firm founded by bitcoin bull Mike Novogratz, has revealed plans to launch a bitcoin fund in Canada. In a statement published Nov. 16, Galaxy Digital said it has partnered with major Canadian fund manager CI Global Asset Management for the launch. The fund is called the “CI Galaxy Bitcoin Fund” and it will be open to the general public. Galaxy Digital, which primarily focuses on corporate investors, has since received approval from securities regulators for its preliminary prospectus for an initial public offering (IPO), it added.....

The yet-to-be-registered asset manager hopes to launch its VAL1 token later this year.

Galaxy Digital saw massive growth in its Bitcoin fund trading volumes in Q3 2020. Galaxy Digital, a cryptocurrency merchant bank founded by Mike Novogratz, is expanding its crypto offerings in Canada.According to a Nov. 16 announcement, Galaxy Digital has partnered with major Canadian investment company CI Global Asset Management to launch a public Bitcoin (BTC) fund in the country.The CI Galaxy Bitcoin Fund is a “closed-end investment fund” that aims to provide unitholders with exposure to Bitcoin. The fund will invest directly in Bitcoin using the fund’s holdings of the token based on....

Source: YouTube.com. Eclectica Asset Management founder and hedge fund manager Hugh Hendry has high hopes for bitcoin. The manager said that it's possible that the price of bitcoin could reach $1 million down the line: "This is the environment where Bitcoin could go to $1m. There is no qualitative reason, but it is trending. If I could own Bitcoin, I would." But the question is: why can't Hugh Hendry own bitcoin? According to Business Insider, "it's not available on a regular exchange". Perhaps not a good enough reason, but it's certainly interesting to see someone prominent in the....

The fund's units began trading roughly three weeks after the investment manager filed a final prospectus with Canadian regulators. Canada-based investment fund manager 3iQ’s Bitcoin exchange-traded fund created in partnership with Coinshares is now available for trading.In an announcement from 3iQ today, trading for the 3iQ Coinshares Bitcoin exchange-traded fund, or ETF, began on the Toronto Stock Exchange today. The fund’s units are trading in U.S. dollars under the ticker “BTCQ.U” and Canadian dollars under the ticker “BTCQ.” Trading opened at $11.89 for BTCQ before dipping to $11.51....