First Block Capital – Canada Bitcoin & Cryptocurrency Investing Firm?
First Block Capital is a Canadian investment firm catered to investors who want to gain exposure to cryptocurrencies. Read our First Block Capital review to find out how it works today.
What Is First Block Capital?
First Block Capital, found online at FirstBlock.capital, is a Canadian investment firm “committed to helping investors capture the value to be derived from the disruptive technologies built on blockchain technology.”
Like other cryptocurrency investment platforms, First Block Capital will use its expertise and experience to pick the best blockchain technology companies and tokens. They’ll sell a number of different financial products allowing investors to gain exposure.
The company’s first product is called the Canadian Bitcoin Trust. That trust, available on FrontFundr.com, is designed to track the price of bitcoin. The company plans to release other cryptocurrency investment vehicles in the future.
First Block Capital, Inc. is based in Vancouver. The company launched its first fund, the Canadian Bitcoin Trust, in July 2017.
First Block Capital’s Canadian Bitcoin Trust
The Canadian Bitcoin Trust is an investment fund that will be eligible for RRSP, TSFA, and other self-directed accounts after it receives at least 150 investors. The fund’s minimum investment amount is $500 CAD. The fund charges a 1.5% annual fee. There are no performance bonus fees or additional fees.
As mentioned above, the goal of the Canadian Bitcoin Trust is to track the price of bitcoin. To do that, the fund will directly invest in bitcoin. The fund will not invest in anything else but bitcoin.
Canadian Bitcoin Trust is sponsored and promoted by First Block Capital. That means the company is responsible for managing and directing the undertaking, operations, and affairs of the Trust, including managing and directing the investments of the trust and performing any related administrative services.
The Trust will purchase bitcoins, then securely store bitcoins on behalf of investors. The trust will track the bitcoin market price, then charge a 1.5% management fee.
Canadian Bitcoin Trust Features
Here are the key features you need to know about the First Block Capital-managed Canadian Bitcoin Trust:
- Investment Objective: Track the market price of bitcoin
- Minimum Investment: $500 CAD
- Admin Fee: 1.5% per year
- Performance Fee: 0%
- Eligibility for RRSPs, TFSAs, and Other Self-Directed Accounts: After 150 investors
- Sponsor: First Block Capital, Inc.
- Trustee: Computershare Trust Company
- Custodian: Xapo Limited
- Administrator: SGGG Fund Services Inc.
- Auditor: KPMG LLP
- Legal Counsel: Borden Ladner Gervais LLP
Who’s Behind First Block Capital?
First Block Capital is led by Sean Clark (Founder & General Partner), Thomas Kineshanko (Founder & General Partner), Marc van der Chijs (Founder & General Partner), and Matthew Shaw (Founder & General Partner).
Clark is a tech entrepreneur, the president and founder of SHOEme.ca, CRO and co-founder of Shoes.com, the Regional Manager of Clearly Contacts for Australia/New Zealand, and a Deloitte consultant. He holds an MBA and BA from the University of British Columbia and was named to the BIV 40 Under 40 in 2015.
Kineshanko, meanwhile, is the co-founder of Canada’s first bitcoin/ether fund as well as the blockchain platform Walter.ai. Marc van der Chijs is a serial internet entrepreneur and investor, while Matthew Shaw is a former investment banker who co-founded a specialist emerging markets investment bank (DEPFA).
First Block Capital is based in Vancouver, British Columbia. The company launched its first fund in July.
First Block Capital Conclusion
First Block Capital is a Vancouver, Canada-based investment company that plans to offer a range of cryptocurrency investment vehicles marketed to all types of Canadian investors. In July, the company launched its first investment fund – a bitcoin fund designed simply to track the price of bitcoin in exchange for a 1.5% management fee. The fund is available to any investors with a minimum investment of $500 CAD. After 150 investors buy into the fund, it will be eligible to be held in a TFSA, RRSP, or other self-directed account.
You can learn more about First Block Capital by visiting the company online today at FirstBlock.capital. The company’s Canadian Bitcoin Trust, meanwhile, can be found on FrontFundr.com.