Purpose Bitcoin ETF has received approval from the Ontario Securities Commission to invest in and hold substantially all of its assets in long-term holdings of the digital currency Bitcoin.

This prospectus qualifies for distribution: (a) Canadian dollar-denominated currency-hedged Exchange-Traded Fund units, (b) Canadian dollar-denominated ETF non-currency hedged units and (c) US dollar-denominated ETF non-currency hedged units. Meanwhile, south of the border, American regulators have not been convinced that they should approve an ETF that tracks the performance of Bitcoin.

The fund is an alternative mutual fund within the meaning of National Instrument 81-102 – Investment Funds (NI 81-102) established as a trust under the laws of the Province of Ontario. It can invest in asset classes and use investment strategies that are not permitted for conventional mutual funds. Although it will pursue these strategies in accordance with its investment objective and strategies, during certain market conditions it may accelerate the pace at which investments decrease in value. The fund is subject to restrictions and practices contained in Canadian securities legislation applicable to alternative mutual funds, including NI 81-102, and is managed in accordance with these restrictions, except as otherwise permitted by exemptions provided by Canadian securities regulatory authorities. The fund has been created to buy and hold substantially all of its assets in long-term holdings of Bitcoin and seeks to provide holders of ETF Units with the opportunity for long-term capital appreciation.

The ETF units of the fund have been conditionally approved for listing on the Toronto Stock Exchange.