First Block Capital, in partnership with FrontFundr, announced today the launch of the first-ever Canadian Bitcoin Trust.
This trust will provide eligible investors with a safe and easy method to invest in bitcoin. Bitcoin is perhaps the most recognizable cryptocurrency and this step forward will allow consumers to invest and deal with the new asset class.
“The Canadian Bitcoin Trust is an open-ended unit trust that enables investors to get exposure to the price of Bitcoin without having to worry about buying and securing Bitcoin,” says Sean Clark, cofounder of First Block. Clark was also the founder of Shoes.com which abruptly shut down early this year.
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 who just want to become cryptocurrency asset holders.
Cryptocurrencies such as Bitcoin and Ethereum have been making a lot of news lately, from high-level deals to the Ethereum creator dubbing them a “ticking time-bomb.”
Major advantages of this new asset class revolve around being something fresh and new while also having a market that is not tied to traditional means and fluctuations.
You can buy into the Canadian Bitcoin Trust right now through FrontFundr for a minimum of $500.