The British Columbia Securities Commission (BCSC) announced on Wednesday “the first registration of an investment fund manager in Canada solely dedicated to cryptocurrency investments.” The announcement read:
The BCSC has granted First Block Capital Inc. registration as an investment fund manager and an exempt market dealer in order to operate a bitcoin investment fund.
Canadian investment firm First Block Capital announced the launch of the country’s first bitcoin trust in July. “The Canadian Bitcoin Trust is an open-ended unit trust that enables investors to get exposure to the price of bitcoin without having to worry about buying and securing bitcoin, which has been a challenge for investors,” said co-founder Sean Clark at the time.
The trust can be accessed through funding portal Frontfundr. “The only investments of the Trust will be direct investments in bitcoin,” its listing page describes. Xapo Ltd is listed as the custodian.