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The Web3 ETF seeks to provide Unitholders with capital appreciation by investing in a diversified portfolio comprised primarily of equity and equity-related securities of companies that give investors exposure to emerging technologies such as Web3, the blockchain and digital asset-enabled internet.

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Ninepoint Web3 Innovators ETF CAD > Current price discounted 8% on bitcoin price

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Post by Lawyerup on Jan 29, 2021 2:04pm

Current price discounted 8% on bitcoin price

This is based on the news release. Since Jan 27th to today's price of $35,103 US there is a 13.6% increase in bitcoin. IPO was $12.65 so a 13.6% increase we should be trading at $14.38 Canadian if there were 0 premium. So BITC.UN is showing a discount of roughly 8% which in my books is cheap. I doubt we will see this discount for long. Just my two cents. Cheers Charlie

Ninepoint Partners LP (“ Ninepoint ”) announced today that Bitcoin Trust (the “ Fund ”) was over 99% invested on its first day of trading, January 27, 2021, at an average cost per unit of Bitcoin of US$30,888.84. The Fund’s Class A Units trade in both US dollars and Canadian dollars on the Toronto Stock Exchange under the symbols “BITC.U” and “BITC.UN”, respectively.

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Comment by Lawyerup on Jan 29, 2021 2:10pm

This means its cheaper to buy BITC.UN or BITC.U than to actually buy bitcoin itself on an exchange. When you factor in fees & commissions into the purchase of actual bitcoin, these two funds are running around a 9-9.5% discount over the actual price of bitcoin. So way, way cheaper than QBTC or GBTC at the moment.

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Ninepoint Web3 Innovators ETF CAD