Share on LinkedInShare on LinkedIn

ARTICLE · 10 DECEMBER 2019

OSC Orders Approval Of Prospectus For Canada's First Bitcoin Investment Fund

Miller Thomson
Miller Thomson
Contributor

Miller Thomson

Miller Thomson LLP ("Miller Thomson") is a national business law firm with approximately 500...

View firm profile
Explore more from Miller Thomson

In a ground-breaking decision, the Ontario Securities Commission ("OSC") overturned the decision of the Acting Director of the Investment Funds & Structured Products Branch of the OSC.

CanadaTechnology
Myron Mallia-Dare
Myron Mallia-Dare
Syed Rizvi
Syed Rizvi
Author LinkedIn connections

Overview

In a ground-breaking decision, the Ontario Securities Commission ("OSC") overturned the decision of the Acting Director of the Investment Funds & Structured Products Branch of the OSC ("IFSP") to refuse to issue a receipt for the establishment of the Bitcoin Fund (the "Fund") – which is a proposed investment fund based on the cryptocurrency Bitcoin.

3iQ Corp. ("3iQ") is the investment fund manager and had been working on the Fund for three years with the goal of allowing retail investors the benefits of investing in bitcoin through a regulated, listed fund. Following multiple discussions with the IFSP, the Acting Director of the IFSP refused to issue a receipt for the Fund's prospectus. In declining to issue a receipt, the Director questioned the suitability of cryptocurrency as an investment, citing the lack of regulation for cryptocurrencies and the various associated risks.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Canada’s 2026 AI Strategy: What Businesses Need To Know

Canada's National Artificial Intelligence Strategy marks a significant shift in federal AI policy, moving away from standalone legislation toward a comprehensive framework that emphasizes privacy reform, data sovereignty, and business adoption. The Strategy outlines six interconnected pillars designed to position Canada as a global AI leader while addressing regulatory gaps through existing legal frameworks and new policy tools.
CanadaTechnology
Aird & Berlis LLP
Aird & Berlis LLP
Article

Quebec’s New Truck Licence Transfer Rules: What Ontario Carriers Need To Do Now

Ontario commercial truck drivers with less than two years of heavy-truck experience must now pass a practical road test administered by Quebec's SAAQ before transferring their licence to operate heavy vehicles in the province. This new requirement follows fatal collisions and an Ontario Auditor General audit that exposed significant gaps in training standards and provider oversight. Carriers operating across the border need to factor these requirements into workforce planning, recruitment timelines, and dis
CanadaTransport
Miller Thomson
Miller Thomson
Article

Canadian Income Tax Source Deductions And Payroll Taxes: What Every Foreign Employer Needs To Know

Foreign companies hiring Canadian employees or allowing remote work from Canada face immediate payroll obligations that begin the moment employment duties are performed on Canadian soil. Understanding income tax source deductions, CPP and EI premiums, provincial payroll taxes, and director liability rules is essential for compliance, regardless of whether the employer maintains a physical Canadian presence.
CanadaTax
Miller Thomson
Miller Thomson
Article

Quebec’s Bill 24: New Consent Requirements For AI Generated Advertising And The Legal Risks Business Cannot Afford To Ignore

Quebec's new Bill 24 prohibits businesses from using a person's identity or image in consumer advertising without consent, creating significant compliance obligations for companies using AI-generated content, synthetic voices, and digitally altered spokespersons. The legislation introduces broad enforcement powers and extends liability beyond content creators to platforms that distribute or facilitate unauthorized representations.
CanadaConsumer Protection
Miller Thomson
Miller Thomson
Article

Could The Old Ontario Construction Lien Act Still Apply To Your Project? The Court Of Appeal Weighs In

A 2026 Ontario Court of Appeal decision reveals that construction contracts signed years after legislative reforms may still be governed by the old Construction Lien Act if the procurement process began before July 1, 2018. The ruling demonstrates how early project proposals and negotiations can determine which statutory regime applies, regardless of when the final contract was executed or where the project was ultimately built.
CanadaReal Estate and Construction
Miller Thomson
Miller Thomson
Article

Consultation du Canada sur la transparence en matière d’IA : ce que les entreprises doivent savoir avant le 23 septembre

Canadian organizations developing, acquiring, deploying or using AI have until September 23, 2026 to contribute to shaping the federal government's approach to AI transparency through a public consultation. Innovation, Science and Economic Development Canada is seeking input on five key areas that could lead to new disclosure obligations, incident reporting requirements, and AI agent tracking mechanisms.
CanadaStrategy
Miller Thomson
Miller Thomson