The Canadian based company Purpose Investments Inc. is ready to change the world. February 12, 2021 the firm was pleased to announce that it has been cleared by Canadian securities regulators to launch Purpose Bitcoin ETF (the “ETF” or “BTCC”), « the first direct custody Bitcoin ETF in the world ». The ETF is designed to provide investors with exposure to the leading cryptocurrency, Bitcoin, by investing directly in physically settled Bitcoin.
« Bitcoin has been gaining popularity among individual and institutional investors for years now, however it remains a difficult asset to gain efficient and secure exposure to. Purpose Bitcoin ETF will change the landscape for investors by giving them a simple, efficient and affordable way to directly access the cryptocurrency », said Som Seif, founder and CEO of Purpose Investments.
The ETF will allowing investors « easy and efficient access to the emerging asset class of cryptocurrency » without the associated risk of self-custody within a digital wallet. Similar to physically backed gold or silver products, the ETF « will always be backed directly by physically settled Bitcoin holdings ».
Holdings will be kept in « cold storage »: « the most secure custody solution in the market ».
Purpose Investments is proud to be working with Gemini Trust Company, LLC as sub-custodian and CIBC Mellon Global Securities Services Company as fund administrator to provide investors with confidence regarding the safe and effective purchase, settlement, custody of Bitcoin and administration of the ETF.
The ETF’s daily NAV will be priced based on the daily spot price of the TradeBlock XBX Index.
Purpose Investments is an asset management company with more than $10 billion in assets under management with headquarter Adelaide St. West, in Toronto, Canada.
SOURCE: from GLOBE NEWSWIRE, TORONTO, Feb. 12, 2021.
Lire aussi:
- Le Bitcoin, « actif spéculatif » ou monnaie ? – Article de Francesoir.fr – http://www.francesoir.fr/societe-economie/le-bitcoin-actif-speculatif-ou-monnaie
- Bitcoin.fr/bitcoin-la-revanche-de-la-monnaie-marchande/
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