“The Canadian Bitcoin Trust is an open-ended unit trust that enables investors to get exposure to the price of Bitcoin without having to worry about buying and securing Bitcoin, which has been a challenge for investors,” said Sean Clark, co-founder of First Block Capital.
Launched by Vancouver-based entrepreneurs Sean Clark and Marc van der Chijs, First Block Capital has partnered with FrontFundr, Canada’s leading online investment platform, allowing all levels of investment into the trust starting at $500. An investment in units of the trust is available on a private placement basis to eligible Canadian investors pursuant to exemptions from applicable prospectus requirements (specifically, the “offering memorandum” exemption under National Instrument 45-106).
“With crypto-currency poised to become a new asset class, Canadian Bitcoin Trust is the first opportunity for all Canadians to be able to invest in Bitcoin securely,” said Peter-Paul Van Hoeken, CEO of FrontFundr. “FrontFundr is thrilled to bring this opportunity to the larger investor community, democratizing investment in crypto-currency for all Canadians.”
The value of Bitcoin and other crypto-currencies increased from $30 billion in December 2016 to over $100 billion in June 2017. Previously, buying Bitcoin required a seasoned level of knowledge to navigate the technical transaction process. Investors were also required to securely store the Bitcoin they purchased. First Block Capital’s partnership with FrontFundr simplifies the process by allowing investors to buy units of the Canadian Bitcoin Trust. This removes barriers for investors who simply want to get into the market through traditional investment channels.
Bitcoin and Blockchain technology have grown in popularity partly because they give power back to the investor by removing third parties that require authentication, verification, settling and record keeping. Many investors like that transactions are handled peer-to-peer directly with no additional bank fees and arbitrary transfer limits.
Some key advantages of the Canadian Bitcoin Trust are exposure to a new digital currency asset class and to an asset class that is non-correlated to traditional markets. First Block Capital aims to help investors capture the value of disruptive technologies based on the Blockchain through FrontFundr. To buy into the trust, which launched today visit FrontFundr.
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