The first bitcoin trust began work in Canada
Stock Markets Group In Canada started the first regulated bitcoin trust, received the status of a mutual Fund that invest in bitcoin retirement savings and deposits of customers.
The initiator was canadian First Block Capital Inc., which announced the beginning of the mutual trust Fund.
Approved investment product is the first and only in world to be awarded official approval by the securities Commission of Ontario and the regulator of British Columbia (BCSC), which allows the owners tax-free savings accounts to invest in bitcoin.
“The trust units are qualified investments using mutual funds. And one of the participant in accordance with applicable Tax laws shall be allowed not more than 150 units a year since launch Fund”
Co-founder Marc van der Chis said:
“The goal of bitcoin trust, was the desire to make investments in digital assets more affordable, enabling holders of units to place funds in the national currency, providing them with daily liquidity”
According to representatives of the First Block Capital Inc., the main criterion for determining exactly bitcoin as an investment tool is its popularity and technical development of blockchain technology.
Stock Markets Group™