March 4, 2021

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Arxnovum files Bitcoin ETF application with Canadian securities regulators

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Canadian investment fund manager Arxnovum Investments has filed a prospectus for a new Bitcoin (BTC) exchange-traded fund, or ETF, in Canada.

On Monday, the company filed a stack of preliminary documents for the Arxnovum Bitcoin ETF with Canada’s Ontario Securities Commission.

According to a preliminary long-form prospectus, Arxnovum plans to list its new Bitcoin ETF on the Toronto Stock Exchange. The listing is subject to the approval of the TSX in accordance with its original listing requirements. “The TSX has not conditionally approved the listing application of the Bitcoin ETF and there is no assurance that the TSX will approve the listing application,” Arxnovum noted.

The company said that units of the Arxnovum Bitcoin ETF will trade on TSX against the U.S. dollar. The ETF will include Bitcoin and/or Bitcoin futures contracts and/or other derivatives instruments. The new Bitcoin ETF may also hold cash, cash equivalents and/or other fixed-income securities, the company said.

According to the prospectus, the Arxnovum Bitcoin ETF will be backed by cryptocurrency exchange and custody firm Gemini, which will act as a sub-custodian for assets held outside of Canada:

“Gemini Trust Company is the sub-custodian of the bitcoin held by theTitle: Arxnovum files Bitcoin ETF application with Canadian securities regulators
Sourced From: cointelegraph.com/news/arxnovum-files-bitcoin-etf-application-with-canadian-securities-regulators
Published Date: Wed, 13 Jan 2021 13:18:18 +0000