The Fund’s investment objectives are to seek to provide Unitholders of the Fund with exposure to digital currency Bitcoin through an institutional-quality platform that is cost-efficient to Unitholders and to provide a secure, simpler and exchange-traded investment alternative for buying and holding Bitcoin.
Q: Where can I learn about Bitcoin?
A: You can find out more on our Digital Assets Group website
Q: When will Bitcoin Trust convert to an ETF?
A: Subject to the approval of unitholders and regulators, the Bitcoin Trust will convert to an ETF in May of 2021.
Q: What are the other benefits of converting to an ETF
A: The ETF will reduce tracking error and improve liquidity and, the manager believes, reduce costs through economies of scale.
Q: How does Ninepoint's management fee compare to others in the industry?
A: Ninepoint's management fee of 0.70% is one of the lowest in the industry. Low fees mean better returns for you, our investor.
Q: Is the Bitcoin Trust eligible for my RRSP and TFSA?
A: Yes. Bitcoin Trust can be held in any registered account
Q: How does Bitcoin Trust purchase its Bitcoin?
A: Bitcoin Trust works with large, sophisticated and regulated entities such as exchanges and over-the-counter trading firms to purhcase its Bitcoin. The market for Bitcoin is very liquid. For example, Bitcoin Trust was able to purchase US $180 million of Bitcoin in less than a day without having any impact on the market price.
Q: Do I need to download a wallet to buy Bitcoin Trust?
A: No. You simply buy it on the stock exchange, like any other stock or security
Q: Can I buy Bitcoin on the TSX?
A: You can't buy Bitcoin, but you van buy units of the Bitcoin Trust as easily as you would buy any other stock or security
Q: Where is the Bitcoin custodied and is it secure?
A: The Bitcoin Trust custodies its Bitcoin with Gemini, which is a New York licensed trust company. Gemini custodies billions of dollars worth of Bitcoin on behalf of Fortune 500 companies and major asset managers. They also have a $200 million insurance policy in place for added security.
Q: Are you fully invested in Bitcoin at all times?
A: Yes. Bitcoin Trust is always fully invested in Bitcoin. Other funds employ derivatives which can increase tracking error. Ninepoint believes that the Bitcoin Trust, in the long run, gives investors the best exposure to Bitcoin
Q: What Bitcoin price is used to calculate the Net Asset Value of the Bitcoin Trust?
A: The Trust uses the MVIS Bitcoin Index
Exchange: Toronto Stock Exchange (TSX)
|Fund Type||Digital Assets|
|Inception Date||January 27, 2021|
|Registered Tax Plan Status||RRSP,RRIF,RDSP, DPSP,RESP, TFSA|
|Exchange||Toronto Stock Exchange (TSX)|
|Units per BTC||3,291.28|
|BTC per Unit||0.000303833|
|Total NAV in USD||319,288,618|
|Total Units Outstanding (Class A)||18,473,866|
The historical NAV chart does not represent performance of the Fund. It is shown to illustrate the daily movement of the NAV and does not include reinvested distributions. Please note that the Fund's units trade on the TSX where investors will generally buy or sell the Fund's units at Market Price. Investors may pay more or less than the NAV and may also incur brokerage commissions for such transactions.
The indicated rates of return are the historical annual compounded total returns, including changes in unit value and do not take into account sales, redemption or optional charges or income taxes payable by a security holder that would have reduced returns.