Canada’s First Bitcoin Fund Now Available on NEO Connect
Business Wire | NEO Connect and First Block | Sep 10, 2018
First Block Capital’s FBC Bitcoin Trust Gives Accredited Investors Ability to Hold Bitcoin Investments in Registered Accounts, including RRSPs and TSFAs
TORONTO--(BUSINESS WIRE)--NEO Connect is pleased to announce that the First Block Capital Bitcoin Trust (“FBC Bitcoin Trust”) is now available on its fund distribution platform. As the first investment product of its kind in Canada and the only open-ended Bitcoin fund approved by the Canadian regulators, the FBC Bitcoin Trust enables accredited investors to get exposure to Bitcoin. The FBC Bitcoin Trust, which is eligible for accredited investors only, now allows unit holders to put units in a self-directed registered account such as an RRSP or TFSA.
The FBC Bitcoin Trust is available on NEO Connect under the symbol FBCBT. NEO Connect distributes 46 funds from three asset managers across 15 dealer networks, with close to $600 million in total assets serviced. It is Canada’s first and only fund distribution platform that allows prospectus and private/offering memorandum (OM) funds to be purchased and redeemed the same ways as buying and selling ETFs.
“At First Block, we provide investment exposure to Bitcoin by removing the complicated barriers to investing directly in the cryptocurrency. As the market leader in providing investment vehicles based on blockchain and cryptocurrency in Canada, we are very happy to make our fund more accessible to the accredited investor community,” said Sean Clark, Co-Founder and CEO of First Block Capital.
“In this fast-changing world, NEO is the perfect partner with whom we have seized the opportunity to grow our fund within their proven and rapidly expanding fund distribution network.”
See:
-
Infographic – How to explain Bitcoin to your Grandparents
-
CRA surveyed businesses to find out why they’re taking bitcoin ATMs
Using NEO Connect, investment advisors can purchase and redeem the FBC Bitcoin Trust with the same ease and efficiency as they trade ETFs. They look up the symbol using their existing equities trading tools, choose the number of units they want and hit “buy”. The order executes at the end of the day at NAV, without any bid/ask spreads. The resulting position is automatically integrated into the client accounts – it’s that simple.
“Today, for the first time in Canada, accredited investors working with investment advisors can seamlessly take positions in Bitcoin through the FBC Bitcoin Trust,” added Jos Schmitt, President & CEO, NEO. “As the world evolves, we are very pleased our unique fund distribution platform can help the investment community access, with ease and efficiency, an ever-expanding spectrum of new and innovative asset classes. Once again, innovators are meeting on NEO.”
Continue to the original press release --> here
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org
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Read More
Read More
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Read More
Read More
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Read More
Read More
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Read More
Read More
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Read More
Read More
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Read More
Read More
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Read More
Read More
Green Biz | Joel Makower | Nov 18, 2019 "Smart beta." It’s a term of art on Wall Street, a blend of active and passive investing strategies that typically combine an underlying stock index with an investment manager’s savvy about a potential stock’s liquidity, volatility, momentum and other factors. The strategy is said to provide a risk/return profile that is more attractive than a singularly active or passive investment product. That nerdy financial term will be among those increasingly relevant to corporate sustainability execs — CSOs, for short — as the astonishing rise of environmental, social and governance, or ESG, factors takes hold in the mainstream investing world. ESG assets under management have grown the fastest among smart beta strategies — a compound annual growth rate of more than 70 percent over the past five years, according to a recent report from Bank of America Merrill Lynch. "The opportunity is also too big to ignore," the report's authors wrote. "Bank of America estimates that over the next few decades, equity investments aligned with ESG criteria could attract assets equal to the size of the Standard & Poor’s 500 index today." The S&P 500 in October had a market capitalization of ...
Read More
Read More
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Read More
Read More
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