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Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: Please give me your thoughts on the above. The first two are ETFs , and that to me means covering more than one crypto currency ? Could you elaborate on this and what they cover as an ETF ? Their mer's = 1%. What is the diff. between QBTC and QBTC.U and is there an mer on these ? If you were to buy Bitcoin in a TFSA, would it be one of these or would you recommend another one that might have lower management fees. Looking at these 4 on the stock market today, QBTC is up 2.76% while the 2 first ones are up less than 1% ? I certainly like a 2.76% daily increase ! Thanks for any info.
Read Answer Asked by Frank on March 25, 2021
Q: In his question, Rajiv mentioned that QBTC was at a 6% premium to NAV. While QBTC has sold at a premium (up to 20% in early Jan) on Feb. 18 at end of day, per the 3iQ website, NAV was $74.47 and closing price was $70.49. This is a discount of 5.34%, not a premium. Intraday, the discount appeared to be even higher, perhaps due to selling pressure as people transferred to the Purpose ETF.
Read Answer Asked by David on February 19, 2021
Q: Can you please explain this notice, the dates are confusing:
Annual Redemption Valuation Date: June 15, 2021

Annual Redemption Payment Date: On or before the 15th business day following the Annual Redemption Date.
BMO InvestorLine has been advised of an Annual Redemption Privilege for THE BITCOIN FUND CLASS A UNITS.
Terms:
Option 1: Cash - (USD) Annual Redemption Privilege
To receive a redemption price per Unit equal to 100% of the Net Asset Value per Unit determined on the Annual Redemption Date, less any costs and expenses associated with the redemption, including commissions incurred by the Fund to fund such redemptions.
Important Notes:
As per the Prospectus dated March 31, 2020:
Units may be redeemed at the option of Unitholders on the first business day following the 15th day of June in each year commencing on June 16, 2021, subject to the Fund's right to suspend redemptions in certain circumstances. Units so redeemed will be redeemed at a redemption price equal to the Net Asset Value per Unit on the Annual Redemption Date, less any costs and expenses associated with the redemption, including commissions incurred by the Fund to fund such redemptions. Units must be surrendered for redemption on or before the last business day of the month of May preceding the applicable Annual Redemption Date. Payment of the proceeds of redemption will be made in U.S. dollars on or before the 15th business day following the Annual Redemption Date
Read Answer Asked by Cheryl on January 27, 2021
Q: I am still very curious about QBTC.U and how exactly they invest capital. I haven’t been able to find out much about it. Is BITCOIN the only asset the fund has? Do they trade bitcoin to gain value or is the value directly tied to the price of bitcoin? If they are holding bitcoin as a static asset, why would the value of the fund drop when they issue new shares if that new capital goes directly into additional bitcoin coins?
Read Answer Asked by Robert on December 30, 2020
Q: Both funds hold BTC only, no other alt coins that I can see. The current price has a premium to NAV of 27% and 3% for QBTC.U. Why such a huge spread ? I know GBTC is much bigger but still it makes no sense to me. Do you have an explanation ? Also am I correct to assume the price of these 2 stocks will move pretty much in line with the price of BTC ? If you had to buy one which would you buy ?
Thanks
Read Answer Asked by Luc on December 09, 2020
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