What is the purpose bitcoin ETF?

It received a lot of hype and investor interest. Like the popular commodity and share-based ETFs that can be traded on the Toronto Stock Exchange (TSX), Canada’s largest exchange, to get exposure to their linked assets, the Purpose Bitcoin ETF allows its owners to book exposures on its underlying asset, Bitcoin.

Should you buy a bitcoin ETF in Canada?

A bitcoin ETF doesn’t give you custody of the bitcoin, which is a drawback for some. However, the major advantage of a bitcoin ETF in Canada is that you can buy a bitcoin ETF in either your TFSA, where gains are tax-free, or an RRSP, where deposits can reduce your income tax.

What are the best bitcoin trading platforms in Canada?

Brokerage platforms offering it in Canada include: Questrade: Offers free EBIT purchases. New clients get $50 in free traders using the SAVVY50 offer code. Wealthsimple Trade: Offers free ETF and stock purchases. Plus, a $25 bonus with a $200 deposit. Related: Bitcoin Trading Apps in Canada. 3. CI Galaxy Bitcoin ETF (BTCX)

What is BTCC ETF?

BTCC is Purpose Investment’s crypto ETF offering investors exposure to the world’s most popular cryptocurrency. It is traded on the TSX under three ticker symbols as follows: Below are some key details about the Purpose Bitcoin ETF as of January 13, 2023: Eligible accounts: TFSA, RRSP, personal and corporate non-registered investment accounts