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A closed-end fund tied to bitcoin has been listed on the Toronto Stock Exchange


Canada’s first fund tied to bitcoin has been listed on the Toronto Stock Exchange (TSX).
Canadian asset manager 3iQ in Nov. 2019 filed a prospectus for a regulated fund tied to bitcoin, appropriately dubbed The Bitcoin Fund. It is a closed-end fund aimed to add  "exposure to the digital currency bitcoin and the daily price movements of the U.S. dollar price of bitcoin," according to a previous press statement.
On Thursday, the fund listed 5,000,000 Class A shares on the TSX at $10 per share. It utilizes the institutional bitcoin index developed by VanEck Europe subsidiary MV Index Solutions and cryptocurrency market data firm CryptoCompare. 
Similar to an exchange-traded product (ETP), the fund will expose shareholders to movements of bitcoin’s price over time. 


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