Bitcoin Trust
$500,000,000.00
50,000,000.00 Units at $10.00
Initial Public Offering - Closed - Wednesday, January 27, 2021
Company Description
Bitcoin Trust invests in the digital currency Bitcoin.The Fund intends to achieve its investment objectives by investing directly in Bitcoin while using high quality serviceproviders, including digital asset trading counterparties, trading platforms and custodians, and independent auditors, legal and valuation agents, in order to manage the assets of the Fund. By having in-house expertise, the Manager expects to offer a cost-efficient structure to Unitholders for ongoing management fees. Ninepoint Partners LP, the Manager is the trustee, manager and promoter of the Fund and is responsible for providing certain general management and administrative services to the Fund.
| Address: |
Royal Bank Plaza, South Tower, 200 Bay Street, Suite 2700, P.O. Box 27 Toronto, Ontario, M5J 2J1 Canada |
|---|---|
| Phone Number: | 416 943-4065 |
| Fax Number: | 416 943-6497 |
| Website: |
| Industry: | Structured Products |
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| Closing Date: | Wednesday, January 27, 2021 |
| 1st Day of Trading: | Wednesday, January 27, 2021 |
| Primary Symbol: | BITC |
| Exchange: | Toronto |
Proceeds
The net proceeds of the offring will be used to purchase Bitcoin for the Fund’s portfolio following the closing date.
| Gross Proceeds: | US $500,000,000.00 |
|---|---|
| Underwrting Fees: | US $27,500,000.00 |
| Expense Offering: | US $1,250,000.00 |
| Net Proceeds: | US $471,250,000.00 |
| Lead Underwriter: | Canaccord Genuity Corp. |
|---|---|
| Other Underwriter(s): |
PI Financial Corp. Mackie Research Capital Corporation Echelon Wealth Partners Inc. Leede Jones Gable Inc. Infor Financial Inc. Richardson Wealth Ltd Sightline Wealth Management LP. |
Performance
| 1 day | 1 week | 1 month | 6 months | Inception | |
|---|---|---|---|---|---|
| Recent Performance | 0.00 % | -0.62 % | -4.17 % | 63.41 % | -19.60 % |
| Post IPO Performance | -5.10 % | -5.10 % | 21.50 % |
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