{"id":35545,"date":"2021-01-28T20:26:41","date_gmt":"2021-01-28T18:26:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35545"},"modified":"2025-08-29T01:48:43","modified_gmt":"2025-08-28T22:48:43","slug":"bitcoin-fund-raises-180-million-in-an-ipo-on-the-toronto-stock-exchange","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-fund-raises-180-million-in-an-ipo-on-the-toronto-stock-exchange\/","title":{"rendered":"Bitcoin fund raises $180 million in an IPO on the Toronto Stock Exchange"},"content":{"rendered":"<p>The asset manager Ninepoint Partners LP, which manages $7 billion, has completed the initial public offering (IPO) of its bitcoin fund on the Toronto Stock Exchange.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">A Big thank you to everyone on the TMX team, we couldn\u2019t have done it without you. <a href=\"https:\/\/t.co\/4nnYnUqyIV\">https:\/\/t.co\/4nnYnUqyIV<\/a><\/p>\n<p>\u2014 Ninepoint Partners (@Ninepoint) <a href=\"https:\/\/twitter.com\/Ninepoint\/status\/1354483088680771584?ref_src=twsrc%5Etfw\">January 27, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The total amount raised was CAD 230 million ($180 million). The shares are trading under tickers \u201cBITC.U\u201d and \u201cBITC.UN\u201d in US dollars and Canadian dollars respectively.<\/p>\n<p>The company believes investors will obtain a simple and safe market alternative to buying and storing the first cryptocurrency. Before the listing, Ninepoint obtained the requisite authorization from the Canadian regulator.<\/p>\n<blockquote>\n<p>&#8220;This is the largest IPO of an investment bitcoin fund in Canada. Investors will appreciate the trust structure and the low management fee of 0.7% of <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%A1%D1%82%D0%BE%D0%B8%D0%BC%D0%BE%D1%81%D1%82_%D1%87%D0%B8%D1%81%D1%82%D1%8B%D1%85_%D0%B0%D0%BA%D1%82%D0%B8%D0%B2%D0%BE%D0%B2\" target=\"_blank\" rel=\"noopener noreferrer\">\u0441\u0442\u043e\u0438\u043c\u043e\u0441\u0442\u0438 \u0447\u0438\u0441\u0442\u044b\u0445 \u0430\u043a\u0442\u0438\u0432\u043e\u0432<\/a>,&#8221; \u2014 said Ninepoint CEO Josh Wilson.<\/p>\n<\/blockquote>\n<p>Ninepoint will rely on Gemini, the custodial arm of the U.S. cryptocurrency exchange, for safeguarding the bitcoins.<\/p>\n<p>The fund&#8217;s value is based on the MVIS\u00ae CryptoCompare Bitcoin index. It is calculated by MVIS, a VanEck subsidiary, which manages assets worth $49 billion.<\/p>\n<p>As a reminder, on October 20 on the TSX <a href=\"https:\/\/u1f987.com\/en\/news\/tsx-launches-canadian-dollar-trading-of-3iqs-the-bitcoin-fund-shares\">began trading of the shares of 3iQ&#8217;s index Bitcoin fund<\/a>.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The asset manager Ninepoint Partners LP, which manages $7 billion, has completed the initial public offering (IPO) of its bitcoin fund on the Toronto Stock Exchange.<\/p>\n","protected":false},"author":1,"featured_media":35546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[771,1156,1211],"class_list":["post-35545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-canada","tag-institutional-investors-and-whales","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35545"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35545\/revisions"}],"predecessor-version":[{"id":35547,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35545\/revisions\/35547"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35546"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}