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TORONTO, January 20, 2021 (GLOBE NEWSWIRE) – Ninepoint Partners LP (“Ninepoint”) Is pleased to announce that Bitcoin Trust (the“Funds”) Has submitted a final prospectus in connection with its offer (the“offer“) Of Class A Shares (“Class A.”), Class F units (“Class F units.“) And / or Class S Shares (“Class S.And together with the A and F units, the unitsunits”). A receipt for the final prospectus has been issued by the securities regulators in each of the provinces and territories of Canada. Units are priced at $ 10.00 (or CAD 12,762) per unit.

The maximum size of the offering is $ 500,000,000. The offering is expected to close on or about January 27, 2021 and is subject to customary closing conditions, including receipt of any required regulatory approvals. The Toronto Stock Exchange (“TSX”) Has authorized the listing of Class A Shares under certain conditions, which will trade in both US and Canadian Dollars under the symbols“ BITC.U ”and“ BITC.UN ”, respectively, subject to the TSX requirements are. The Class F and Class S Shares will not be listed on a stock exchange, but will be reclassified into Class A Shares immediately upon completion of the Offering.

Investment objectives

The investment objectives of the fund are to provide holders of units (“Shareholders“) The fund with exposure to Bitcoin in digital currency (“Bitcoin”) Through an institutional grade platform that is cost effective for shareholders and offers a safer, easier, and exchange traded investment alternative to buying and holding Bitcoin.

Investment strategies and fund highlights

The Fund intends to achieve its investment objectives by investing directly in Bitcoin, using high quality service providers such as digital asset trading counterparties, trading platforms and custodians, and independent accountants, legal and valuation agents to manage the Fund’s assets. With the in-house expertise of Ninepoint’s recently established Digital Asset Group, Ninepoint expects to offer shareholders a cost-effective structure for ongoing management fees.

Ninepoint anticipates the fund will have the lowest management fee structure for a publicly traded Bitcoin vehicle in Canada. An annual management fee of 0.70% of the Fund’s Net Asset Value is paid to Ninepoint for the Class A Shares, Class F Shares and Class S Shares, calculated daily and payable monthly in arrears plus applicable taxes of the fund.

The fund’s Bitcoin rating is based on the MVIS CryptoCompare Institutional Bitcoin Index, which is provided by MV Index Solutions GmbH (“mvis”) Or a successor or an alternative index for institutional quality. MVIS is a wholly-owned subsidiary of Van Eck Associates Corporation, a large, long-standing, and respected financial services company.

Ninepoint is acting as trustee and manager of the fund.


The offering is being promoted by a consortium of agents led by Canaccord Genuity Corp. and INFOR Financial Inc., including Echelon Wealth Partners Inc., PI Financial Corp., Richardson Wealth Limited, Leede Jones Gable Inc., Mackie Research Capital Corporation and Sightline Wealth Management LP.

The offer will only be made through the final prospectus for the Fund dated January 19, 2021 (the “Prospectus”). The prospectus contains important information on the securities offered. Copies of the prospectus can be obtained from one of the agents listed above or from www.sedar.com. Investors should read the prospectus before making any investment decision.

The shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) Or the securities laws of any state of the United States and may not be offered or sold, directly or indirectly, in the United States (as defined in Regulation S of the US Securities Act), unless they are registered and governed under the US Securities Act Securities laws of any state of the United States or reliance on an exception to such registration requirements. This press release constitutes neither an offer to sell nor a solicitation of an offer to buy any of the securities listed herein in the United States.

About Ninepoint Partners LP

Toronto-based Ninepoint Partners is a leading Canadian alternative investment management company with approximately $ 7 billion in assets under management and institutional contracts. Helping investors find innovative investment solutions that have the potential to increase returns and manage portfolio risk, Ninepoint offers a range of alternative strategies including North American Equity, Global Equity, Real Assets and Alternative Income. The Ninepoint Digital Asset Group is a division of Ninepoint Partners.

For more information on Ninepoint, visit www.ninepoint.com. If you have any questions about the offer, please contact (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com.

Certain statements in this press release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expected,” “intends,” “anticipated,” “will” and similar expressions to the extent that they are based relate the deposit. The forward-looking statements are not historical facts, but rather reflect Ninepoint’s current expectations with regard to future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. While Ninepoint believes that the assumptions contained in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly, readers are cautioned not to place undue reliance on such statements due to the uncertainty they contain. Neither the Fund nor Ninepoint undertakes any obligation to publicly update or otherwise revise any forward-looking statement or information, whether as a result of new information, future events or any other such factors that may affect such information, except as required by law.