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Canada agrees to establish the world’s first “Bitcoin” fund

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The Canadian authorities announced their approval of the launch of the first Bitcoin investment fund in the world, and the Ontario Securities Commission, which oversees the Toronto Stock Exchange, confirmed on Friday that it had granted approval for the launch of the ETF proposed by the company, “Burbus Investments Inc.”, which will increase the Opportunities for investors to access the burgeoning digital currency.

A spokesman for the committee told “AFP” that the fund will be listed on the stock exchange as of next week, and will be called “PTCC”. For its part, the company stressed that its fund will be the first in the world to invest directly in the “Bitcoin” currency. They are based on financial support and not on derivatives, which allows investors to easily and effectively access the emerging asset class of electronic currencies without the risks associated with digital wallets.

The Gemini Trust cryptocurrency platform will be the sub-supervisor of the new fund to be managed by the Canadian company, CIBC Mellon Global Securities. In recent weeks, several Canadian and American companies have made initial offers to the Ontario Securities Commission and the State Securities and Exchange Commission. United, for stock market listings.

This comes against the backdrop of an unprecedented increase in the price of “Bitcoin”, which was launched in 2009 in the recent period, as the price this week exceeded $ 45 thousand, driven by the announcement of the company, “Tesla” for the electric car manufacturer, of a large investment of $ 1.5 billion in the digital currency.

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