Canadian firm files final prospectus for Bitcoin ETF

After voting on the issue among the holders of its Bitcoin trust, investment manager Ninepoint Partners, based in Toronto, presented its final prospectus for financial exchange Bitcoin.

According to a Ninepoint announcement today, the securities regulators in each of Canada’s 10 provinces and 3 territories have acknowledged receipt for its request to establish an exchange-traded fund Bitcoin (BTC) or ETF. The firm said in March it would allow its holders to vote on whether to convert its existing BTC trust to a Bitcoin ETF on the Toronto Stock Exchange or TSX.

Ninepoint aims for the BTC trust to convert to Bitcoin ETF starting next Thursday, May 6, subject to regular and stock market approvals. If the application were successful, the Ninepoint Bitcoin ETF would trade on the TSX under the tokens used for its Bitcoin trust: BITC.U for US dollars. However the company will shorten the BITC.UN marker for the trust’s units in Canadian dollars to BITC for the ETF.

Canadian regulators have given the green light to many companies applying for a crypto ETF this year, including bids from investment management firm 3iQ, Purpose Investments, Evolve Funds Group and CI Global Asset Management. However yesterday in the US the Securities and Exchange Commission delayed its decision to approve or reject registration of Bitcoin ETF by active administrator VanEck.