Canada launches first crypto investment fund
The company First Block Capital Inc. announced on Monday, September 10th, the approval for the change of status of its FBC Bitcoin Trust fund
Through a statement issued on Monday, September 10th, the Canadian investment company in cryptocurrencies and associated technology First Block Capital Inc., announced the approval for the change of status of its FBC Bitcoin Trust fund.
From now on, the company becomes a mutual fund or trust fund. This means that Canadian citizens will have the option to place funds through their tax-free savings accounts. Also, through retirement savings plans, with prior authorization from local regulators.
The entities that issued the approval for the creation of the trust are the British Columbia Securities Commission (BCSC) and the Ontario Securities Commission (OSC).
Who can participate? Accredited investors or their advisors, through the NEO Connect funds distribution platform. There they can buy or exchange funds in the FBC Bitcoin Trust on behalf of their clients and manage them.
According to Sean Clark, co-founder and CEO of First Block, “the objective is to provide investors with regulated, titled and auditable exposure to investment services based on blockchain and cryptocurrencies.” Our vision is to create a fleet of investment products dedicated to this space “
In case the investor wants to enter the fund, the first thing he needs is to look in the NEO Connect directory for the fund’s FBCBT symbol. Then, set the amount they want to invest on behalf of their customers. In the icon “buy” they can generate the order that will be executed at the end of the day according to the net value of the asset. In the end, the operation is integrated into the customer’s account automatically.
M.Pino
Source: Infocoin
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