Investment Management entity from Canada Ninepoint Partners has reportedly rolled out trading for shares of the firm’s Bitcoin trust, across the Toronto Stock Exchange.

Specifically, Ninepoint has reportedly finalized an initial public offering (IPO) for its Bitcoin trust, equals to $230 million Canadian dollars – approximately $180 million in US currency. 

Ninepoint Partners additionally remarked that it would carry out the issuance of three different classes of 17,990,491 units, with $10 a piece, with  7 million of the sum has reportedly been put up for public trading across the Toronto Stock Exchange, under the ticker symbols BITC.U and BITC.UN for U.S. and Canadian dollars, respectively.

Head of Ninepoint and managing partners John Wilson reportedly mentioned the initiative as the “largest initial public offering of a Bitcoin investment fund in Canada to date.”

The company further revealed that the trust would reportedly come with a yearly management cost of 0.70% of its net asset value, with calculations finalized everyday and payment completed on a monthly basis. 

“We believe our institutional quality trust structure and lowest management fee of any listed Bitcoin investment fund in Canada will be a winning combination for continued investor interest. With this initial offering, we are laying the foundation for the success and growth of our Digital Asset Group.” Wilson reportedly remarked. 

The same as Grayscale’s crypto funds operating in the US, Ninepoint reportedly claimed that its primary goal is to bring up the exposure of  new investors to cryptocurrencies, such as Bitcoin (BTC). 

A small proportion of Grayscale with a reported C$7 billion ($5.5 billion) in assets is reportedly being managed at the moment, with the company sharing that it would not look into selling shares of the trust in America.