Ninepoint Launches Canada’s Largest Bitcoin IPO of $180 Million

A coin representing Bitcoin cryptocurrency is reflected on a polished surface as it sits in this arranged photograph in London, U.K., on Thursday, Feb. 8, 2018. Canadian investment manager Ninepoint Partners LP completed a C$230 million ($180 million) initial public offering, the country’s largest new fund to be based on the cryptocurrency. — A coin representing Bitcoin cryptocurrency is reflected on a polished surface as it sits in this arranged photograph in London, U.K., on Thursday, Feb. 8, 2018. Canadian investment manager Ninepoint Partners LP completed a C$230 million ($180 million) initial public offering, the country’s largest new fund to be based on the cryptocurrency.
Photographer: Bloomberg/Bloomberg

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By Michael Bellusci

January 27, 2021 at 8:53 PM UTC

This article is for subscribers only.

Canadian investment manager Ninepoint Partners LP completed a C$230 million ($180 million) initial public offering, the country’s largest new fund to be based on the cryptocurrency.

The IPO consisted of units sold at $10 apiece, Ninepoint said in a statement. Bitcoin Trust began trading Wednesday on the Toronto Stock Exchange under the ticker BITC-U. Ninepoint’s launch eclipsed that of fund manager CI Financial Corp., which completed a $72 million Bitcoin fund IPO in December.