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Canadian Investors Can Hold Bitcoin in Legally Registered Funds The first and only regulated bitcoin fund in Canada, First Block, recently announced that its flagship, FBC Bitcoin Trust is currently eligible for mutual fund trust, allowing unit trust holders to place securities unit, such as RRSP and TFSA, in an autonomously registered account.

Investment advisers will now be able to purchase Bitcoin Trust of First Block on the NEO Connect platform. NEO Connect is a trading platform developed by Aequitas Innovations and a related platform for NEO Exchange.

First Block announced at a press conference on September 10 that investors will be able to use the stock code called FBCBT on NEO Connect to purchase the FBC Bitcoin Trust. Investment advisers can also purchase and redeem FBC Bitcoin Trust Funds seamlessly and efficiently for their approved investors, just like trading etf.

Marc van der Chijs, co-founder and chief investment officer of First Block, claimed that after the launch of the FBC Bitcoin Trust, they will continue to promote and assist Canada to be the global leader in the regulation of blockchain and cryptocurrency investment vehicles as the well development of major coins alike eth coin, and altcoins alike dash coin, monero coin.

“Our goal is to make digital currency investment easier, and we are now one step

closer to achieving this goal, as unit trust holders can now use media tools supported by the government and with effective taxation, and we offer daily cash flow through the NEO Connect platform. Neo Connect is a fund sales platform and a fast-growing dealer network sales platform. �

After applying the NEO Connect platform, First Block no longer use the 30-day redemption terms, and can also implement a daily settlement system.

Sean Clark, co-founder and CEO of First Block, told the media that the cancellation of 30-day redemption system of the First Block Fund would allow the company to stabilize its assets under management.

Mr. Clark said that they feel that the 30-day long redemption period was a disadvantage to the fund and the reason have not been able to obtain hundreds of millions of assets before. Investors hoped that the industry has more liquidity, and they were happy to be able to provide the discretionary account advisors with feature that they can trade every day.

NEO President and CEO Jos Schmitt also agreed with Mr. Clark's point of view, adding that the investment community has shown growing interest in alternative assets that can be effectively distributed.

Jos Schmitt declared that all types of investors are looking for more diversified investment methods and invest less in associations. Usually, only large institutional investors can get the assets with less relevant.

He added that they were using NEO Connect to popularize less diversified investment channels. The goal is to enable everyone to build a well-balanced portfolio.

According to an official press release from First Block, First Block predicted that most investors in the FBC Bitcoin Trust will begin transferring securities units within September 2018.

The company also announced that all transfers will be managed by registered self-employed companies that have worked closely with First Block to prepare for the launch of the FBC Bitcoin Trust.

Canadian Investors Can Hold Bitcoin in Legally Registered Funds  
Canadian Investors Can Hold Bitcoin in Legally Registered Funds