First Block Capital has received approval from the Ontario Securities Commission (OSC) and British Columbia Securities Commission (BCSC) to launch a Bitcoin fund which will be classified as a mutual fund. Investors can now invest in Bitcoin through their registered retirement savings plan (RRSP) and tax-free savings account (TFSA) by making purchases through the NEO Connect platform under the FBCBT ticker.
The fund eases the process of investing in Bitcoin as investors do not have to deal with purchasing, storing, or managing Bitcoins. First Block Capital expects that FBC Bitcoin Trust investors will begin to move units shortly and at the moment the fund is only open to accredited investors, according to online publication Bitcoinist.
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