According to the recent reports, Ninepoint firm has successfully gone ahead and completed its initial public offering (IPO). It has been confirmed that the initial public offering (IPO) held by Ninepoint was for the Bitcoin (BTC) fund. The IPO for Bitcoin (BTC) funding was held by Ninepoint at the Toronto stock exchange.
For those who are not aware, Ninepoint is a popular investment management firm that is based in Canada.
The officials at Ninepoint were really excited and determined about the recent completion of the IPO. The firm has also claimed that it is the largest initial public offering (IPO) that has been held for Bitcoin (BTC) funding in Canada to date.
The announcement about the completion of the initial public offering for the Bitcoin (BTC) fund was made by Ninepoint Partners on January 27, 2021. As a result of the initial public offering for Bitcoin (BTC) trust, the company has been able to generate CA$230 million that translates to $180 million.
It was the co-CEO of Ninepoint John Wilson firm who announced that it is the largest IPO held for Bitcoin (BTC) trust in the history of Canada.
It has been announced that it is the Class “A” of the funds that are currently being traded on the Toronto Stock Exchange. The firm also revealed that the assets are currently being traded on the exchange in both Canadian dollars and U.S. dollars. Both the currencies being traded is channeling under the symbols BITC.UN and BITC.U respectively.
It has been revealed by Ninepoint that with the help of the IPO, it aims to provide Bitcoin (BTC) the exposure that it deserves among the investors. It revealed that the Toronto Stock Exchange has turned out to be a cost-efficient and an institutional-quality platform for Bitcoin (BTC).
Through the Toronto Stock Exchange, the investors and traders will have the opportunity to invest, trade, and hold Bitcoin (BTC) through a safe and secure channel.
It has been confirmed that Bitcoin (BTC) for the particular fund will be valued on the basis of the MVIS Cryptocompare Institutional Bitcoin Index. The particular index is being maintained by the MV Index Solutions GmBH (MVIS). Ninepoint has confirmed that it will be acting as the manager and trustee of Bitcoin’s fund.
MVIS is part and subsidiary of the Van Eck Associates Corp. and is completely owned by the company. The Van Eck Associates Corp. had recently filed a request at the Securities and Exchange Commission to be able to exchange service for Bitcoin (BTC) funds.
With every passing day, Bitcoin (BTC) has been gaining constant growth and success. According to many analysts and experts, Bitcoin (BTC) may end up surpassing gold and USD in the coming years.