Canadian Bitcoin ETFs
Bitcoin Exchange Traded Funds give investors exposure to bitcoin.
Investors gain exposure to bitcoin while avoiding the hassles (and reducing the cost) of buying, storing and safekeeping bitcoin itself. Several Bitcoin ETFs trade on the Toronto Stock Exchange and may be available to U.S. investors. Check with your broker/dealer for availability and restrictions.
Opportunities From These Leading Firms
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The Purpose Bitcoin ETF (BTCC) is Canada’s first bitcoin ETF. It invests solely in physically settled bitcoin held in cold storage in partnership with Gemini Trust Company. The ETF tracks the U.S. dollar price of bitcoin on a benchmark index provided by TradeBlock.
The CI Galaxy Bitcoin ETF (BTCX.B for Canadian $ and BTCX.U for U.S. $) invests directly in bitcoin; its holdings are priced using the Bloomberg Galaxy Bitcoin Index, which is designed to measure the performance of a single bitcoin traded in U.S. dollars. The ETF is managed by CI Global Asset Management. The subadvisor is Galaxy Fund Management, a unit of Galaxy Digital.
The Evolve Bitcoin ETF (EBIT for Canadian $ and EBIT.U for U.S. $) is the second bitcoin ETF approved in Canada. Bitcoin holdings are priced based on a daily bitcoin benchmark index.
The 3iQ CoinShares Bitcoin ETF (BTCQ for Canadian $ and BTCQ.U for U.S. $) trades on the Toronto Stock Exchange like the others.
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