The Bitcoin Fund (QBTC.U) – USD

Net Asset Value per Unit (NAVPU) June 18, 2021 $39.4066
Net Asset Value (NAV) June 18, 2021 $458,341,196.74
Net Asset Value per Unit at Inception April 9, 2020 $9.2396

The Bitcoin Fund (QBTC) – CAD

Net Asset Value per Unit (NAVPU) June 18, 2021 $49.0132
Net Asset Value (NAV) June 18, 2021 $570,076,115.35
Net Asset Value per Unit at Inception April 9, 2020 $9.2396 USD

The Bitcoin Fund – Fund Information

Prospectus (EN)
Prospectus (FR)
Legal and Financial
May Fund Profile (EN)

Exchange: Toronto Stock Exchange (TSX)

Ticker: QBTC.U, QBTC

Currency: USD, CAD

Units Outstanding: 11,631,077  

Units per BTC: 896.13

BTC per Unit: 0.00111591

CUSIP: 09175G104

ISIN: CA09175G1046

Management Fee: 1.95%


Benchmark Index: MVIBTC

Custody Services: Cidel Trust Company

Sub-Custodian: Gemini Trust Company, LLC

Fund Valuation: SGGG Fund Services Inc.

Transfer Agent: Computershare Investor Services Inc.

Accounting: SGGG Fund Services Inc.

Auditor: Raymond Chabot Grant Thornton LLP

Legal Counsel: Osler, Hoskin & Harcourt LLP

As of June 18, 2021

Fund Performance

Fund Returns Inception Date 1-Month 3-Month 6-Month 1-Year YTD Since Inception 3-Year
Class A (USD) April 9, 2020 -36% -21% 90% 284% 27% 346% N/A

Fund returns are net of all fees and expenses. Performance figures are rounded, and based on the NAVPU of The Bitcoin Fund (QBTC.U). Past  performance is not indicative of future results.

As of May 31, 2021

Fund Historical Performance

Fund Returns
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual or YTD
2021 20% 33% 26% -3% -36% 27%
2020 -4% -3% 24% 3% -8% 26% 41% 50% 252%

Fund returns are net of all fees and expenses. Performance figures are rounded, and based on the NAVPU of The Bitcoin Fund (QBTC.U). Past  performance is not indicative of future results.

As of May 31, 2021

Net Asset Value per Unit (NAVPU) and Market Price

CSV  Excel  

*Net Asset Value per Unit (NAVPU) is calculated by the Administrator daily as at 4:00pm ET. The Fund’s bitcoin is valued based on the MVIS CryptoCompare Institutional Bitcoin Index (MVIBTC) maintained by MV Index Solutions GmbH (MVIS).

**Market price data is provided by the Toronto Stock Exchange (TSX). Market price reflects the closing price of The Bitcoin Fund on the TSX under the symbol QBTC.U as at 4:00pm ET. 3iQ Corp does not verify any data and disclaims any obligation to do so. 3iQ Corp, its data or content providers, the financial exchanges and each of their affiliates and business partners (A) expressly disclaim the accuracy, adequacy, or completeness of any data and (B) shall not be liable for any errors, omissions or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon.

Units Outstanding

CSV  Excel  

The Bitcoin Fund is structured as a closed-end fund that issues a fixed number of units. Units have been offered to the public during the Initial Public Offering (IPO) in April 2020, in periodic overnight offerings, at-the-market offerings, and in private placements to accredited investors. Management is precluded by OSC regulations from offering any units where net proceeds to the fund would be below net asset value.


Proxy Voting

The Bitcoin Fund does not hold securities of any company or other issuer. Therefore, The Bitcoin Fund did not vote any proxies during the regulatory reporting period.


The Fund is offered pursuant to a prospectus, which should be read carefully before investing. The prospectus can be obtained from Information contained in the prospectus includes the investment objectives and potential strategies of the Fund and other factors which may cause the actual results, performance, or achievements of the Fund or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements.

There are ongoing fees and expenses associated with owning units of The Bitcoin Fund (the “Bitcoin Fund”). The Fund must prepare disclosure documents that contain key information about the Fund. You can find more detailed information about the Fund in the final prospectus. The Fund is not guaranteed, its value change frequently and past performance may not be repeated.  You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the Toronto Stock Exchange (TSX) and the Gibraltar Stock Exchange (GSX). If the units are purchased or sold on the TSX or GSX, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them.

The securities of the Fund have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. The final prospectus of the Fund does not constitute an offer to sell or the solicitation of an offer to buy securities of the Fund nor will there be any sale of such securities in any state in which such offer, solicitation, or sale would be unlawful.

The Fund is generally exposed to the following risk factors. See the prospectus for a description of these risks: No Assurance in Achieving Investment Objectives, No Listing, Loss of Investment, Fluctuation in Value of Cryptoassets, Concentration Risk, Reliance on the Manager, Reliance on the Cryptoasset Consultant, No Ownership Interest in the Cryptoasset Portfolio, Changes in Legislation, Conflicts of Interest, Valuation of the Fund, Significant Redemptions, Limited Liquidity in the Units, Limited Operating History, Not a Fund Company, Exchange Rate Risk, Liquidity Constraints on Cryptoasset Markets may Impact the Fund’s Holdings, Tax Risk, Risks associated with Investing in Bitcoin, Risks Associated with the Bitcoin Network.

Index (the “Index”) is the exclusive property of MV Index Solutions GmbH and has been licensed for use by 3iQ Corp. (the “Licensee”). MVIS has contracted with CryptoCompare Data Limited to maintain and calculate the Index. CryptoCompare Data Limited uses its best efforts to ensure that the Index is calculated correctly subject to the accuracy of any data that has been provided to it by third parties. Irrespective of its obligations towards MV Index Solutions GmbH, CryptoCompare Data Limited has no obligation to point out errors in the Index to third parties. In particular, MVIS is not responsible for the Licensee and/or for Licensee’s legality or suitability and/or for Licensee’s business offerings. Offerings by Licensee, may they be based on The Bitcoin Fund, an investment trust governed under the laws of the Province of Ontario (the “Product”) or not, is not sponsored, endorsed, sold, or promoted by MVIS, Van Eck Associates Corporation as its parent company or its affiliates (collectively, “VanEck”), and MVIS and VanEck make no representation regarding the advisability of investing in Licensee and/or in Licensee’s business offerings. MVIS, VanEck, and its affiliates make no warranties and bear no liability with respect to the licensee.

Commissions, trailing commissions, management fees, and expenses all may be associated with mutual Fund investments. Please read the prospectus before investing. Mutual Funds are not guaranteed, their values change frequently and past performance may not be repeated.