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Another Company from Canada Planning to Go Bitcoin ETF

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Mar 3, 2021

As per the latest reports, the firm known as Ninepoint Partners has made another surprising news for the entire crypto-community in Canada. The firm has revealed that it is very much interested in shifting its offerings to a new platform. The sources have revealed that the platform is planning to move from the Bitcoin Trust platform to a Bitcoin Exchange Traded Fund (ETF) platform.

This news has come as a big surprise for the entire cryptocurrency community and investors that have already become part of Ninepoint Partners. The main reason for the surprise is because just two months back, Ninepoint Partners had announced the launch of the Bitcoin Trust to their users.

However, in a matter of two months, the platform has decided to shift from the Bitcoin Trust service to the Bitcoin Exchange Traded Fund (ET) service.

Following the latest reports, Ninepoint Partners made another announcement regarding the voting among the unitholders to decide the fate of the company. The firm has announced that the voting process would be launched and closed on the same day, which would be April 19, 2021.

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The firm has confirmed that the decision will be fully up to the unitholders and their preference. If the unitholders want to stick with the Bitcoin (BTC) Trust, then their voting should be leaning towards the BTC Trust. If they wish to move to the Bitcoin (BTC) Exchange Traded Fund (ETF).

Ninepoint Partners has stated that if the decision goes in the favor of Bitcoin ETF, then it would go ahead and launch the ETF through the Toronto Stock Exchange (TSX).

When approached to make a comment on the recent developments, the firm provided a clear explanation around the matter. The platform stated that it intends to provide its users with a platform that brings in more trading liquidity and a better trading price.

James Fox who is the co-CEO of the company, Ninepoint Partners also talked about the recent decision made by the company. Fox stated that with the launch of the new service, Ninepoint Partners plans on maintaining its status as one of the leading firms in Canada.

The firm has been considered one of the top platforms in the country that provides efficient, safe, and innovative digital asset investment products. With the launch of the latest service, the platform wants to maintain its position as one of the leading companies in the entire country.

It also intends to facilitate its users as much as it can when it comes to providing profits, liquidity, and safety for the assets and investments.

The firm has revealed that in case the unitholders vote for the BTC ETF, then it already has the ticker symbol “BITC.U for USD that it will be using to trade on the Toronto Stock Exchange (TSX).

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