Canada approves world’s first exchange-traded Bitcoin

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Canada’s main securities regulator has cleared the launch of the world’s first exchange-traded bitcoin fund, the investment manager and the regulator said, giving retail investors greater access to the booming cryptocurrency.

“The ETF will be the first in the world to invest directly in physically settled bitcoin, not derivatives, allowing investors easy and efficient access to the emerging asset class of cryptocurrency without the associated risk of self-custody within a digital wallet,” the asset management company said in a statement.

Gemini Trust Company will be sub-custodian for the fund, while CIBC Mellon Global Securities Services will administer it.

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