Bitcoin Trust Files Final Prospectus

[Not for distribution to United States newswire services or for dissemination in the United States]

TORONTO, January 20, 2021 (GLOBE NEWSWIRE) – Ninepoint Partners LP (“Ninepoint”) Proud to announce that Bitcoin Trust (the“Fund”) Has filed a final prospectus in connection with its proposal (the“Offers“) Class A units (“Class A units”), Class F Units (“Class F. units”And / or Class S Units (“S-Class UnitsAnd, along with the Class A and Class F Units, the “Units”). A receipt for the final prospectus was issued by the securities regulatory authorities in each of the Canadian provinces and territories. The Units are offered at a Unit price of US $ 10.00 (or C $ 12.762).

The maximum size of the Offer is US $ 500,000,000. The Offer is expected to close on or about 27 January 2021 and is subject to normal closing conditions, including obtaining all necessary regulatory approvals. Toronto Stock Exchange (“TSX”) Conditionally approved the listing of the Class A Units, which will trade in US dollars and Canadian dollars under the symbols“ BITC.U ”and“ BITC.UN ”, respectively, subject to delivery TSX requirements. Neither the F-Class Units nor the S-Class Units will be listed on a stock exchange but will be reclassified as Class A Units immediately upon the closing of the Offer.

Investment Objectives

The Fund’s investment objectives are to seek to provide Unit holders (“Occupants”) The Fund with exposure to bitcoin digital currency (“Bitcoin”) Through an institutional quality platform that is cost efficient for Retailers and to provide a secure, streamlined and commercially-traded investment option for buying and holding Bitcoin.

The Fund’s Investment Strategies and Highlights

The Fund intends to achieve its investment objectives by investing directly in Bitcoin using high quality service providers, including digital asset trading counterparties, trading platforms and custodians, and independent auditors, legal and valuation agents, to manage the Fund’s assets. With in-house expertise, through the newly formed Ninepoint Digital Asset Group, Ninepoint expects to offer Unitholders a cost-effective structure for ongoing management fees.

Ninepoint believes that the Fund will have the lowest management fee structure for a listed Bitcoin vehicle in Canada. An annual management fee of 0.70% of the Fund’s net asset value, calculated daily and payable monthly in arrears, plus applicable taxes, is paid to Ninepoint in respect of each of the Class A Units, the Class Units F and the S. Class Units of the Fund.

The Fund’s Bitcoin will be valued based on the CryptoCompare MVIS Institutional Bitcoin Index maintained by MV Index Solutions GmbH (“MVIS”), Or a successor or alternative institutional quality index. MVIS is a wholly owned subsidiary of Van Eck Associates Corporation, a large, long-standing and well-respected financial services company.

Ninepoint will act as trustee and manager of the Fund.

Agents

The offering is being conducted by a syndicate of agents led by Canaccord Genuity Corp. and INFOR Financial Inc. and includes Echelon Wealth Partners Inc., PI Financial Corp., Richardson Wealth Limited, Leede Jones Gable Inc., Mackie Research Capital Corporation and Sightline Wealth Management LP.

Only the Fund’s final prospectus dated January 19, 2021 (the “Prospectus”) makes the Offer. The Prospectus contains important information relating to the guarantees offered. Copies of the Prospectus may be obtained from one of the aforementioned agents or via www.sedar.com. Investors should read the Prospectus before making an investment decision.

The Units are not registered and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”), Or the securities laws of any state of the United States, and may not be offered or sold, directly or indirectly, in the United States (as defined in Regulation S under the United States Securities Act ) unless registered under the United States Securities Act. and applicable securities laws of any state of the United States or in reliance upon exemption from such registration requirements. This news release does not constitute an offer to sell, nor a solicitation of an offer to purchase any of the securities set forth herein in the United States.

About Ninepoint Partners LP

Based in Toronto, Ninepoint Partners is one of Canada’s leading alternative investment management companies overseeing approximately $ 7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to improve returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including North American Equity, Global Equity, Real Assets and Alternative Income. Ninepoint Digital Asset Group is a division of Ninepoint Partners.

For more information on Ninepoint, please visit www.ninepoint.com or inquiries regarding the Offer, please contact us at (416) 943-6707 or (866) 299-9906 or [email protected].

Some statements contained in this news release are forward-looking statements, including, but not limited to, those identified by the phrases “expecting”, “intending”, “at anticipation ”,“ will ”and similar expressions in so far as they relate to the Fund. The forward-looking statements are not historical facts but reflect Ninepoint’s current expectations of future outcomes or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to be materially relevant to current expectations. While Ninepoint believes that the assumptions inherent in forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly. readers are cautioned not to rely too heavily on such statements because of the inherent uncertainty in them. Neither the Fund nor Ninepoint undertakes any obligation to publicly update or otherwise review any forward-looking statement or information, whether as a result of new information, future events or factors such other information affecting this information, except as required by law.

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