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37.CANADIAN BITCOIN TRUST (Published: 02nd Aug, 2017)
The Trust

Investment Objective

Track the bitcoin market price.

Administrative & Safekeeping fee

1.5% annually, payable each month

Performance fee

0

Components

Series A, series B, and Series F

RRSP, TFSA Eligibility & Other Self-Directed

Accounts

After 150 investors

 

The Offering

Securities offered

Series B trust units

Price per security

Net asset value per unit of the series, calculated at 4pm est on the business day of purchase.

Minimum/maximum offering



N/A

Minimum subscription

$500

Currency accepted

USD/CAD

Subscription

Friday of each week

Redemption

With a prior notice of >=60 days, redemption will occur on the last business day of the month.

Price: 98% of NAV per unit of the series

Fee: 1% if redeem within 1 year

Agent fees

6% or $40, whichever is greater

Selling agent

Series B units sold will be distributed by Silver Maple Ventures Inc.

 

Service Providers

Sponsor

First Block Capital Inc. is the sponsor and promoter or the Trust. They are responsible for managing and directing the undertaking, operations and affairs of the Trust. This includes managing and directing the investments of the Trust and providing all necessary clerical, administrative and operational services.

Trustee

Computershare Trust Company of Canada is the trustee of the Trust.

Bitcoin custodian

Xapo Limited, a firm that specializes in providing secure bitcoin storage platforms, acts as custodian of the Trust’s bitcoin assets

and, in that capacity, is responsible for the safekeeping of the Trust’s bitcoins.

Bank

The Trust’s cash is held separate from our assets in a trust account with Royal Bank of Canada.

Registrar

Computershare Trust Company of Canada is the registrar of the Trust. As registrar, it keeps track of who owns units of the Trust and maintains a record of all purchases and redemptions of units.

Administrator

SGGG Fund Services Inc. is the administrator of the Trust. As administrator, it is responsible for calculating the net asset value of the Trust and providing certain recordkeeping services to the Trust.

Legal Counsel

Borden Ladner Gervais LLP acts as legal counsel to the Sponsor. The Trust does not have separate legal counsel.

Auditor

KPMG LLP is the auditor of the Trust.

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