As such, the trust has become the “first and only” investment product approved by the Ontario Securities Commission (OSC) and the British Columbia Securities Commission (BCSC) to offer “unit holders the exclusive opportunity to hold units of a bitcoin investment in their Tax Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP).”
Noting that the investment is available only to accredited investors, the firm explained:
In addition to the bitcoin trust, the firm plans to launch two investment products. The company’s funds are kept in Xapo’s cold-storage vault.
The other product is the Cryptocurrency Index Fund that tracks the performance of tokens selected by the firm’s management team. The company explains, “The evaluation of selecting a token into our index fund is mainly determined by the development of its technology, market capitalization, and market liquidity. The goal is to provide investors with a transparent benchmark in this new asset class.”