[Blockchain Today Reporter Seo-yeon Jang] The Ontario Securities and Exchange Commission (OSC) has approved Canada’s second Bitcoin Listed Index Fund (ETF). Accordingly, attention is also being drawn to the approval of the ETF in the United States.
According to industry sources, on the 16th (local time), OSC conditionally approved Evolve’s Bitcoin ETF.
Bloomberg Intelligence ETF Research Analyst James Seyffart said, “Evolve first applied for a Bitcoin ETF in the United States, not Canada. It is positive that there are no problems with the launch of Bitcoin ETFs in Canada. The United States and Canada have a lot in common in their regulatory framework.”
OSC previously allowed the Bitcoin ETF from Purpose Investment. “Both ETFs have an administration fee of 1%, which is a little higher than the 0.95% fee charged for the cheapest bitcoin exchange trading product in Europe,” said Seypart.
ETFs are a way for investors to invest without holding Bitcoin. In addition, premiums incurred when Bitcoin funds such as Grayscale Bitcoin Trust are normally traded are not mandatory.
Evolve provides CF Benchmarks as an index provider of the fund, EY as an audit company, and CIBC Melon Global Security services as a sub-management company of the Cidel Trust Company as a management company and a fund management company. Specified.
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