Best Bitcoin ETFs In Canada Positioned For Post-Election Rally

On November, the cryptocurrency market has been abuzz with optimism following the U.S. election results. The victory of Donald Trump as the 47th President of the United States has reignited buying pressure in the digital marketplace, primarily due to his supportive stance on cryptocurrencies and his pledge to make America the crypto capital. Under sach a positive bacdrop, Bitcoin price rapidly surges to pass 75K, and this momentum is continuing.

Benefiting from the US Election result and Bitcoin price rally, Bitcoin ETF market has also seen massive capital inflow. In Canada, Bitcoin ETFs are not new things as this country has adopted spot Bitcoin ETFs as an investment since 2021. As a result, there are several options for Canadians to invest in.

The best Bitcoin ETFs offer a easy and cheap way to buy and sell the cryptocurrency through an online broker rather than through the potentially riskier process of using a cryptocurrency exchange. If you are just a newcomer with massive interests in Bitcoin ETFs, next, we will explore more information about Bitcoin ETFs, like what is Bitcoin ETF? Which are best Bitcoin ETFs in Canada for this November? We believe this article will offer a great insight before you making investment decision.

BTCC, one of the longest-running crypto exchanges in the world,  supports trading for 300+ cryptocurrencies with leverage ranging from 1Χ to 500Χ. If you want to start trading cryptocurrencies in Canada, you can start by signing up for BTCC.

Table of Contents

What is a Bitcoin ETF?

Types of Bitcoin ETFs

Pros and Cons of Investing in Bitcoin ETFs

Impact of Spot Bitcoin ETFs on Bitcoin Price

Best Bitcoin ETFs In Canada For November 2024

CI Galaxy Bitcoin ETF

Purpose Bitcoin ETF

3iQ Coinshares Bitcoin ETF

Fidelity Advantage Bitcoin ETF

Purpose Bitcoin Yield ETF

Evolve Bitcoin ETF

Ninepoint Bitcoin ETF

How to Buy Bitcoin ETFs in Canada?

Conclusion

FAQs About Bitcoin ETFs

What is a Bitcoin ETF?

Just like its name, a Bitcoin ETF represents a category of investment funds designed to track the price movements of Bitcoin without requiring investors to directly hold the digital asset. Instead, investors can purchase shares of these ETFs through traditional brokerage accounts, providing them with exposure to Bitcoin’s price fluctuations.

Bitcoin ETFs work as a bridge for traditional investors to get exposure to Bitcoin without the complexities of directly holding cryptocurrency. These financial instruments track the price of Bitcoin, enabling investors to buy and sell shares through conventional stock exchanges. The appeal of Bitcoin ETFs lies in their ability to provide a regulated, secure, and accessible investment avenue into the evolving world of cryptocurrencies.

Notably, a Bitcoin ETF has developed a rapidly expanding category among investors who favor the convenience and liquidity associated with direct investment through an ETF. The primary distinction between ETFs and the actual cryptocurrency lies in the fact that cryptocurrency necessitates a crypto wallet for trading, whereas ETFs are accessible to anyone possessing a stock account and can be traded at any time via stock trading platforms.

BTC USDT-margined perpetual futures contracts with a leverage of up to 500x are available on BTCC platform. If you are interested in Bitcoin (BTC) coin, click the button below to buy BTC⇓

Types of Bitcoin ETFs

In terms of types of Bitcoin ETFs, there are two major types of Bitcoin ETFs: spot Bitcoin ETFs and futures Bitcoin ETFs.

Spot Bitcoin ETFs: A spot Bitcoin ETF is a type of exchange-traded fund that aims to provide investors with direct exposure to the current market price of Bitcoin. A spot Bitcoin ETF typically holds actual Bitcoin as its underlying asset attempts to track the real-time price of Bitcoin as closely as possible, offering a more straightforward investment option for those seeking direct exposure to the cryptocurrency’s price movements.

Futures Bitcoin ETFs: futures Bitcoin ETFs do not provide direct exposure to the actual Bitcoin asset. Instead, these ETFs invest in futures contracts, which are agreements to buy or sell Bitcoin at a future date at a predetermined price. Futures ETFs often involve higher fees and greater volatility compared to spot ETFs.

Pros and Cons of Investing in Bitcoin ETFs

Before investing Bitcoin ETFs, you should be full aware of the advantages and disadvantages of this investment class, which is set as below:

Impact of Spot Bitcoin ETFs on Bitcoin Price

Generally speaking, a spot Bitcoin ETF does not directly affect the price of Bitcoin, but it can indirectly exerts a profound influence on Bitcoin price. Spot Bitcoin ETFs attract institutional investors who previously unwilling to join in the cryptocurrency market due to its volatility nature and security concerns. Spot Bitcoin ETFs  provide investors with regulated and accessible exposure to Bitcoin, thus attracting more influx of institutional capital.  The inflow of capital from institutional and traditional investors makes great contributions to market liquidity and stability, reducing volatility in the long run.

As Bitcoin ETFs continue to evolve and gain traction, their role in shaping the future of Bitcoin’s price dynamics and market landscape cannot be understated.

＼Trade On BTCC With 10 FREE USDT!／

Best Bitcoin ETFs In Canada For November 2024

After introduce the basic knowledge about Bitcoin ETFs. Next, we will introduce best Bitcoin ETFs in Canada positioned for post-election rally for this November based on our analysis.

CI Galaxy Bitcoin ETF

Launched in March 2021, CI Galaxy Bitcoin ETF is an exchange-traded fund (ETF) designed to track the price performance of Bitcoin. CI Galaxy Bitcoin ETF is managed by CI Galaxy Digital Asset Management, a company focused on digital asset management and investment. The ETF provides a way to invest in Bitcoin without being directly involved in the trading and storage of Bitcoin, while providing some liquidity and price transparency.

CI Galaxy Bitcoin ETF is one of the best Bitcoin ETFs in Canada due to the lowest fees of 0.4% it charges. Aiming to give investors exposure to Bitcoin via an institutional-quality fund platform, the CI Galaxy Bitcoin ETF is one of the larger Bitcoin ETFs in Canada in terms of assets under management and is one of the best performing.

Purpose Bitcoin ETF

Launched in February 2021, the Purpose Bitcoin ETF is not only the first spot Bitcoin ETF in the world, but also owns the most assets under management at $2 billion. The Purpose Bitcoin ETF is a passively managed cryptocurrencies fund by Purpose Investments, who manage 69 other funds in Canada, with a total of $7,375.35 million in assets under management. The performance of its funds year-to-date is among the best on this list at 145.93% (FX hedged) and 148.49% (non-FX hedged). Its Management Expense Ratio (MER) is 1.49% and management fee is 1%.

Purpose Bitcoin ETF aims to provide a way for investors to invest in Bitcoin as if they were buying shares, without having to participate directly in the trading and storage of Bitcoin.

3iQ Coinshares Bitcoin ETF

Launched in March 2021, the 3iQ CoinShares Bitcoin ETF tracks the price movement of Bitcoin in US dollar terms, and holds its Bitcoin assets in cold storage with no digital wallet required. This ETF comes with a management fee of 1%, which is relative higher. The 3iQ CoinShares Bitcoin ETF seeks to provide unit holders with (a) exposure to the digital currency Bitcoin and the daily price movements of the U.S. dollar price of Bitcoin, and (b) the opportunity for long-term capital appreciation by investing in long-term holdings of Bitcoin.

3iQ CoinShares Bitcoin ETF was launched to meet the growing investment demand for cryptocurrencies such as Bitcoin, while also providing investors with a more convenient and secure way to invest. By buying ETF shares, investors can enjoy the potential gains of the Bitcoin market while avoiding the risks that come with holding Bitcoin directly, such as storage security, price volatility, etc. Currently, 3iQ Coinshares Bitcoin ETF’s consensus rating is “Strong Sell” based on 0 analysts according to Zacks.

Fidelity Advantage Bitcoin ETF

Launched in November 2021, the Fidelity Advantage Bitcoin ETF is the newest Bitcoin fund compared with above-mentioned. The ETF is designed to provide investors with a convenient way to invest in Bitcoin without directly participating in the trading and storage of the cryptocurrency. By buying ETF shares, investors can indirectly gain exposure to Bitcoin and enjoy the potential appreciation of the Bitcoin market.

This ETF now charged the lowest management fee for a Bitcoin ETF in Canada. This comes after Fidelity Canada ULC announced they’d be cutting the fee from 0.44% to 0.39%, in an effort to compete with the lower fees of U.S.-listed spot Bitcoin ETFs. Besides, it has fewer assets under management than other Bitcoin ETFs listed in Canada.

Purpose Bitcoin Yield ETF

Launched  in 2021, the Evolve Bitcoin ETF (EBIT) is an exchange-traded fund that provides investors with exposure to Bitcoin. By getting exposure to Bitcoin, Canadian investors are allowed to hold Bitcoin in an indirect way. Purpose Bitcoin Yield ETF trades under three ticker symbols:

• BTCY.TO – priced in Canadian dollars but hedged against US dollar price fluctuations
• BTCY.B – priced in Canadian dollars, unhedged
• BTCY.U.TO – priced in US dollars

Notably, Purpose Bitcoin Yield ETF generates a yield, paying approximately 8% (this can vary significantly throughout the year). Like a dividend yield, this will vary based on the price of Bitcoin and the performance of the “covered calls”. If Canadian investors want income by investing in Bitcoin, Bitcoin Yield ETF  can be a viable choice.

Evolve Bitcoin ETF

Evolve Bitcoin ETF (EBIT) is a Bitcoin exchange-traded fund (ETF) launched by Evolve Funds Group. Evolve Bitcoin ETF received conditional approval from the Ontario Securities Commission (OSC) to trade on the Toronto Stock Exchange on February 17, 2023. As one of the most important bitcoin investment vehicles in the Canadian market, Evolve Bitcoin ETF provides investors with a convenient and efficient channel to invest in Bitcoin.

The Evolve Bitcoin ETF is the second Bitcoin ETF approved in Canada after Purpose Bitcoin ETF, further enriching the investment channels for Canadian investors to invest in Bitcoin. The Evolve Bitcoin ETF has performed quite well with a one-year return of 167.95% as of January 12, 2024. It also has the highest fees of any Bitcoin ETF on this list with a management fee of 0.75% and a whopping 2.17% management expense ratio. Therefore, despite the decent performance over the year, there are plenty of alternatives to invest in first.

Ninepoint Bitcoin ETF

Ninepoint Bitcoin ETF is an investment product offered by Ninepoint Partners LP, a Canadian alternative investment management company. The ETF is fairly small in terms of assets under management and comes with a substantially higher MER relative to its peers.

Ninepoint also offers the ETF in a US dollar version, allowing investors to add the fund to the US side of their portfolios. Ninepoint uses a portion of the fund’s management fee to offset the carbon produced by the Bitcoin held in the ETF.

Initially, the Ninepoint Bitcoin ETF aimed to provide investors with exposure to Bitcoin by investing primarily in the cryptocurrency itself. However, as market conditions changed, Ninepoint proposed a change in strategy to diversify the ETF’s holdings. This proposed change would involve investing in a diversified portfolio of stocks and stock-related securities related to Web3, blockchain, and other emerging technologies supporting digital assets.

How to Buy Bitcoin ETFs in Canada?

Buying Bitcoin exchange-traded funds (Bitcoin ETFs) in Canada is a relatively straightforward process, but there are some key steps and caveats that investors need to be aware of. Here are specific step-by-step guidance for buying a Bitcoin ETF in Canada:

Step One: Understand Bitcoin ETFs

First, investors need to have a basic understanding of Bitcoin ETFs. A Bitcoin ETF usually refers to a fund traded on a stock exchange that tracks the price of bitcoin, allowing investors to invest in bitcoin by buying shares of the ETF without owning the currency directly. In Canada, there are already several Bitcoin ETFs for investors to choose from.

Step Two: Choose the right trading platform or broker

Investors need to choose a trading platform or broker that supports Bitcoin ETF trading. In Canada, many well-known brokers and trading platforms offer trading services for Bitcoin ETFs, such as Coinbase, Kraken, Bitbuy, etc. In addition, investors can also consider using traditional stock brokers such as Royal Bank of Canada, TD Securities, etc., which also provide trading channels for Bitcoin ETFs.

Step Three: Open an account and complete identity verification

After selecting a trading platform or broker, investors are required to open a trading account and complete the identity verification process. This usually includes providing personal information, contact details, bank account details, etc., and may require uploading identification documents. After completing the identity verification, the investor can start to deposit funds.

Step Four: Deposit Fund 

Investors need to deposit their funds into their trading account in order to buy a Bitcoin ETF. In Canada, many trading platforms support deposit with CAD, and investors can use bank cards, electronic wallets and other ways to fund their account. Please note that deposit methods and limits may vary from platform to platform and investors need to read the relevant instructions of the platform carefully.

Step Five: Search for and buy Bitcoin ETFs

After depositing fund, investors can enter the code or name of the Bitcoin ETF in the search bar of the trading platform or broker to find the corresponding ETF product. Investors can then buy Bitcoin ETFs at either the market price or a limit order. When buying, take care to check cost factors such as trading fees, slippage points, and make sure you understand the trading rules and risks of relevant Bitcoin ETFs.

Step Six:Manage Bitcoin ETF portfolio

After buying Bitcoin ETFs, investors need to monitor its price and market performance on a regular basis. This can be achieved through the market software or mobile phone application provided by the trading platform or broker. At the same time, investors also need to pay attention to the impact of market dynamics, policy changes and other factors on Bitcoin ETFs.

Besides,  when investing in Bitcoin ETFs in Canada, there are some important factors that investors need to consider, including:

• Understand the risks: Bitcoin ETFs carry a high level of investment risk, and investors need to fully understand their potential risks and market volatility.
• Compliance: When buying a Bitcoin ETF in Canada, make sure the platform or broker you choose is legally compliant and qualified to operate.
• Fees: Different platforms or brokers may have different transaction fees, management fees, etc., and investors need to carefully compare and choose cost-effective platforms.
• Taxes: When investing in a Bitcoin ETF in Canada, investors also need to pay attention to the relevant tax policies and regulations.

＼Trade On BTCC With 10 FREE USDT!／

Conclusion

The election of a pro-crypto U.S. president has already set the stage for a bullish cryptocurrency market. Following Donald Trump’s victory in the presidential election, the whole Bitcoin ETF market around the world is set to usher in bullish development. In Canada, a country with wide acceptance of Bitcoin ETFs, investing in Bitcoin ETFs is not too difficult.

After analysis, the best Bitcoin ETFs we list for Canadians to trade in November 2024 include CI Galaxy Bitcoin ETF, Purpose Bitcoin ETF, 3iQ Coinshares Bitcoin ETF, Fidelity Advantage Bitcoin ETF, Purpose Bitcoin Yield ETF, Evolve Bitcoin ETF and Ninepoint Bitcoin ETF. Investing in Bitcoin ETFs offers a convenient and regulated way to gain exposure to the Bitcoin market, but it also comes with significant risks and uncertainties. Investors should carefully consider their risk tolerance, investment goals, and the potential benefits and drawbacks of investing in Bitcoin ETFs before making any investment decision regarding Bitcoin ETFs.

FAQs About Bitcoin ETFs

Are Bitcoin ETFs a Good Investment in Canada?

ollowing Donald Trump’s victory in the presidential election, the whole Bitcoin ETF market around the world is set to usher in bullish development. However, all investments inherently carry a level of risk, yet the risk profile associated with Bitcoin ETFs stands exceptionally high, primarily attributed to the volatility inherent in Bitcoin. Consequently, investors ought to anticipate significant fluctuations in the share price of their Bitcoin ETF during the investment holding period. It is crucial to allocate only funds that you can comfortably afford to lose, as losses cannot be guaranteed to be avoided. Furthermore, it is highly advisable to consult with a qualified investment advisor prior to making any investment decisions, ensuring a well-informed and prudent approach to your investments.

How to Select the Best Bitcoin ETFs in Canada?

When selecting the best Bitcoin ETFs in Canada, there are several metrics that you need to consider, like fees, performance (one year), assets under management, investing strategy, etc.

Are Bitcoin ETFs Safe to Investment?

Investing in a Bitcoin ETF offers an alternative route to Bitcoin ownership without the direct involvement of managing a cryptocurrency wallet or navigating cryptocurrency exchanges, thereby mitigating certain risks and criminal threats such as hacking, theft, and unforeseen bankruptcies. Nevertheless, even large investment firms can find themselves in the crosshairs of potential risks. It is imperative to acknowledge that all investments, including those in cryptocurrencies like Bitcoin, are inherently risky and can exhibit extreme volatility. Therefore, no investor should allocate funds that exceed their risk tolerance or financial capacity to lose. Seeking the guidance of a financial advisor prior to making any investment decision remains a prudent and recommended practice.

＼Trade On BTCC With 10 FREE USDT!／

About BTCC

In addition to invest in crypto ETFs, interested investors can also directly participate in crypto trading through a reliable crypto exchange.  Selecting best cryptocurrency exchange is crucial for any investor trading digital assets, especially for newcomers.

For Canadian investors, we would introduce BTCC, one of the longest-running exchanges in the world. BTCC supports crypto spot trading, copy trading, as well as futures trading for 300+ cryptocurrencies with leverage ranging from 1Χ to 500Χ.  If you want to trade cryptocurrency in Canada, you can start by signing up for BTCC.

BTCC is among the best and safest platforms to trade cryptos in the world. The reasons why we introduce BTCC for you summarize as below:

• Industry-leading security
• High liquidity & volume
• Extremely low fees
• High and rich bonus
• Excellent customer service

How to Trade Crypto Futures on BTCC?

BTCC supports Perpetual Futures Contracts trading with A leverage up to 500×, users can trade over 300 cryptocurrencies on BTCC at the most competitive price and highest security.

The following sets forth the guidance for trading futures on cryptocurrency exchange BTCC:

Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.

Step Two: on the BTCC official homepage, choose “Deposite”, and then fund your account with your preferred method (fiat deposit, crypto deposit or convert).

Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find the crypto trading pair.

Step Four: choose the contract trading order type. Futures contract orders on BTCC platform include market orders, limit orders and SL/TP orders.

• Market Order: users place orders at the best price in the current market to achieve fast trading.
• Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
• SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.

Step Five: adjust the leverage multiple.

Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.

Step Six: choose the lot size and set the SL/TP price .

Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.

Step Eight: click the buy or sell button, and the crypto futures contract order is completed.

＼Trade On BTCC With 10 FREE USDT!／

Recommended for you:

BTCC Exchange Review 2024

Beginner’s Guide: How to Buy Bitcoin in Canada

Best Crypto Stocks To Buy In Canada For November 2024

Best Crypto Trading Bots In Canada For November 2024

Best Cryptocurrencies To Buy In Canada For November 2024

Best Crypto Exchanges Canada 2024

BTCC Exchange Review 2024

A Beginner’s Guide: How To Buy Meme Coins In Canada In 2024

A Beginner’s Guide: How to Trading Crypto in Canada in 2024

Best Yield Farming Cryptocurrencies For 2024

How to Buy dogwifhat (WIF) in Canada in 2024

How to Buy Pepe (PEPE) in Canada: A Complete 2024 Guide

Top Canadian Crypto Stocks to Buy in 2024

How to Buy Shiba Inu (SHIB) in Canada

Canada Cryptocurrency Market Analysis and Outlook 2024

How to Buy Ripple (XRP) in Canada

How to Buy Dogecoin In Canada

How to Choose Best Crypo Exchanges in Canada

Best Crypto Exchanges Canada 2024

Best Crypto Exchanges Australia 2024

BTCC vs. NDAX: which is a better choice for crypto trading in Canada?

How to Choose Best Crypo Exchanges in Canada

BTCC vs. Bybit vs. eToro：which is the best choice for you？