Bitcoin News

Galaxy Digital to Start Its Canada Bitcoin Fund Operations

Crypto investment firm Galaxy Digital has partnered with fund management firm CI Global to offer its Canada Bitcoin Fund. Hence, interested customers from all provinces and territories can access this new offering.

According to a press release, CI Global obtained approval for the initial public offering of the fund in Canada. As such, it will manage the fund.

Meanwhile, Galaxy Digital will become the Bitcoin sub-advisor for the said offering. Hence, Galaxy Digital will handle all bitcoin trading for the said partnership.

The announcement clarified that,

The Offering is only made by the preliminary prospectus of the Fund dated November 16, 2020. The preliminary prospectus containing important information relating to these securities has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada.

Currently, Bitcoin is reaching $18,049.16 each at the time of writing, according to CoinGecko. Consequently, it is only about $2,000 shy of reaching its all-time high of roughly $20,000 in December 2017.

Moreover, experts are even speculating that Bitcoin could reach even greater heights in 2021. For example, Citibank made a bullish BTC prediction 2021 report wherein it would reach $318,000 by December 2021. Meanwhile, Bloomberg’s Senior Commodity Strategist Mike McGlone made a BTC prediction 2022 wherein Bitcoin could have a $1-trillion market capitalization.

CoinQuora Staff

CoinQuora is an online publication that aims to educate about news, exchanges, and markets in the cryptocurrency and blockchain industry

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