Cryptocurrency adoption might be set to increase in Toronto. The city’s first publicly listed Bitcoin fund is now seeing is performing healthily.
According to VanEck Director Gabor Gurbacs in a recent tweet, the new Fund which is listed on the Toronto Stock Exchange (TSX), sold 163,716 yesterday. Gurbacs made this announcement promoting crypto, saying he was “excited.”
The tweet also seems to throw some shade at people who are Bitcoin dissidents. Gurbacs says that the data shows an increase in Bitcoin interest, contrary to the general idea that people are not “interested in Bitcoin.”
The Bitcoin Fund was launched earlier this month. It was announced that it would track the Bitcoin price via an index feed. The feed is set up to give investors who are interested in Bitcoin, reasonable exposure to the king coin.
3iQ, a Canadian investment firm, first got approval for the Fund in October 2019. After going back and forth for a while, 3iQ got permission from the Ontario Securities Commission (OSC). Popular crypto exchange and trust firm Gemini Trust Company LLC, led by the Winklevoss Twins, was also appointed as a custodian for the Fund.
The Bitcoin Fund also has two types of shares, named Class A and Class F.
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