Canadian Bitcoin Trust

Canadian Bitcoin Trust is currently in the Coming Soon Phase.
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Overview

Canadian Bitcoin Trust is an open-ended unit trust established under the laws of British Columbia. The Trust’s business activities involve raising capital through the issuance of trust units and investing the capital raised in accordance with the Trust's investment objective. The investment objective of the Trust is to track the market price of bitcoin, less the Trust’s liabilities and expenses, by investing the assets of the Trust in bitcoin. The only investments of the Trust will be direct investments in bitcoin. An investment in the Trust is designed to provide investors with a cost effective and convenient way to invest in bitcoin.

Investment ObjectiveTrack the bitcoin market price
Investor QualificationsAccredited Investors, Friends, Family and Business Associates, and Crowdfunding Investors
Minimum Investment RequirementC$500
Administrative and Safekeeping Fee1.5% annually
Performance Fee0%
SubscriptionsOn Business Days
RedemptionsLast business day of the month
RRSP, TFSA Eligibility and Other Self-Directed AccountsAfter 150 investors
SponsorFirst Block Capital Inc.
TrusteeComputershare Trust Company of Canada
CustodianXapo Limited
AdministratorSGGG Fund Services Inc.
AuditorKPMG LLP
Legal CounselBorden Ladner Gervais LLP


Canadian Bitcoin Trust

Canadian Bitcoin Trust is sponsored and promoted by First Block Capital Inc. As the sponsor of the Trust, First Block Capital is 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.

The investment objective of the trust is to track the market price of bitcoin, less the Trust’s liabilities and expenses, by investing the assets of the Trust in bitcoin.  The only investments of the Trust will be direct investments in bitcoin.

Your investment in the Trust will be represented by Series B units.  Each Series B unit represents an equal, undivided beneficial interest in and ownership of the net assets of the Trust attributable to that series.  Series B units are not transferable, except in very limited circumstances.  However, unit-holders have the right to redeem their units at certain times if they follow the procedures we have established.


Market

Bitcoins are a digital commodity based on an open source protocol.  Bitcoins are not issued by any government, bank or central organization, and instead exist on an online, peer-to-peer computer network (the “Bitcoin Network”) that hosts a public transaction ledger where bitcoin transfers are recorded (the “Blockchain”).  The Bitcoin Network is accessed through software, and software governs bitcoin creation, movement and ownership.

Bitcoins have no physical existence beyond the record of transactions on the Blockchain.  The Blockchain is a public record of the creation, custody and flow of funds of bitcoins, showing every transaction effected on the Blockchain among users’ online “digital wallets” where their bitcoins are effectively stored. 

All transactions on the Bitcoin Network are secured using public-key cryptography, a technique which underpins many online transactions.  Public-key cryptography works by generating two mathematically related keys (one a public key and the other a private key). In the case of bitcoin transactions, the public key is an address (a string of letters and numbers) that is used to encode payments, which can then only be retrieved with its associated private key, which is used to authorize the transaction.


Revenue Model

The goal of the Canadian Bitcoin Trust is to buy bitcoin and securely store the coins on behalf of its investors.  The trust will track the bitcoin market price. 

First Block Capital will charge a 1.5% management fee.


Meet the Team
Sean Clark
Founder/Director/CEO
Marc van der Chijs
Founder/Director/Corporate Development
Thomas Kineshanko
Founder/Director/Investor Relations
Matthew Shaw
Founder/Managing Partner
Philipp Kallerhoff
Managing Director
Andrew Csinger
Advisor
Updates

The Globe and Mail - Ian McGugan

July 24, 2017

Time to board the bitcoin bandwagon? Use caution.

Today's hottest investment is digital currency. You want to learn more about Bitcoin's investment, read more about the Canadian Bitcoin Trust.  

Richard Kastelein

July 24, 2017

First Block Capital Launches Canada’s First Bitcoin Trust Through FrontFundr

Previously, buying Bitcoin required a seasoned level of knowledge to navigate the technical transaction process. Investors were also required to securely store the Bitcoin they purchased.  First Block Capital’s partnership with FrontFundr simplifies the process by allowing investors to buy units of the Canadian Bitcoin Trust. 


To continue reading this great article on theblockchain.com, click here.

Max Greenwood - Techvibes

July 19, 2017

First Block Capital and FrontFundr Launch First Ever Canadian Bitcoin Trust

The overall value of Bitcoin and other cryptocurrencies has risen from $30 billion in December 2016 to over $100 billion in June. Many investors have expressed serious interest in buying into the market but until now there have not been secure and reputable methods to do so. Transaction processes were very technical and the idea of an online only currency that did not have extensive regulation was daunting.

First Block Capital’s new announcement with FrontFundr simplifies the method and removes roadblocks for investors...


Read the full article on Techvibes here.

Brix Media

July 19, 2017

First Block Capital Launches Canada’s First Bitcoin Trust Through FrontFundr

With crypto-currency poised to become a new asset class, Canadian Bitcoin Trust is the first opportunity for all Canadians to be able to invest in Bitcoin securely. Trust allows eligible investors to easily invest in Bitcoin through traditional channel.


To read the full press release, click one of the links below:

National Post

Cantech Letter

Market Watch

Business Wire 


BMO Capital Markets

July 18, 2017

Cryptocurrency Mining and GPUs - Opportunity or Kryptonite

Bottom Line: While we have seen a surge in demand from cryptocurrency mining in 2Q for GPU cards, we are not at all bullish on the sustainability of this demand. We see quite a few similarities to 2013/2014, with cryptocurrency devaluing significantly, profitability for miners shrinking rapidly, down roughly 80% in two months, and, with a potential change coming in how miners are compensated in Ethereum, from ‘Proof of Work’ to ‘Proof of Stake.’ Our analysis suggests that Ethereum alone created roughly 3-5 million cumulative GPU demand as of mid-July.

Key Points

In this note, we attempt to answer a few questions on cryptocurrency mining and its impact on GPU demand...

Read the full article here.

ZeroHedge

July 13, 2017

Switzerland Opens Door To Bitcoin Asset-Management Business

Bitcoin and other cryptos have fallen sharply over the past month in a shakeout that saw some of the early longs decide to take their winnings and walk away. But a 20% drop from the all-time highs hasn’t done much to temper wealthy investors interest in bitcoin and other cryptocurrencies as alternative investments potentially worthy of diversification...


Read the full article here.


ZeroHedge

July 08, 2017

CFTC Approves Options Trading In Bitcoin

US regulators aren’t yet comfortable with bitcoin ETFs (although a quad-levered S&P ETF is just fine for mom and pop), but apparently options and swaps are another story.

This week, the CFTC took a bold step forward...


Read the full article here.


ZeroHedge

July 06, 2017

Wall Street's Migration To Crypto Continues: Former Bain Manager Opens LatAm Bitcoin Fund

It appears a trend is taking shape. Following a former Goldman HFT trader's massive initial coin offering, another Wall Street-er has come to the dark side of virtual currencies. A former senior manager at consulting firm Bain & Company, is launching a Bitcoin fund, providing access to the cryptocurrency to...


Read the full article here.


General Risks
By accessing this site you agree to be bound by FrontFundr’s Terms and Conditions and Privacy Policy. FrontFundr distributes exempt market securities to qualified individuals as defined by National Instrument 45-106, Prospectus and Registration Exemptions and crowdfunding exemptions including Multilateral Instrument 45-108 Crowdfunding and Multilateral CSA Notice 45-316 Start-up Crowdfunding Registration and Prospectus Exemptions.
As an exempt market dealer, Silver Maple can trade and underwrite exempt market securities. Exempt market securities are risky investments and you could lose all the money you invest in such securities.
In general, investment products sold in the exempt market are considered high risk because:
  1. They are not covered by deposit or investor protection insurance;
  2. Regulators do not review offering memoranda for completeness;
  3. Private issuers are not subject to the same ongoing disclosure obligations as reporting issuers;
  4. Private issuers may inadvertently, or advertently, refrain from providing an investor or a registered dealer, all the information required to make an informed investment decision.
  5. Many exempt products are not as liquid as publicly-traded securities and you may be restricted in your ability to sell or transfer these securities; and
  6. Exempt products are often subject to a greater degree of “key person” risk than more widely held securities.
  7. There can be no assurances that an investment will maintain its net acquisition value or produce any projected income or capital return. Investment values change frequently and past performances may not be repeated.
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The risks highlighted above are not conclusive. Risk disclosures specific for each offering are reviewed by SMV and are presented within an issuer’s profile page on the platform and within the offering memorandum or other offering documents for the issuance. Offering documents and the risks associated with the securities of an issuer contained therein should be reviewed thoroughly by an investor or an investor’s professional advisors before making an investment.
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