What is purpose bitcoin ETF (ETF)?

The Canadian dollar denominated ETF non-currency hedged units and U.S. dollar denominated ETF non-currency hedged units of Purpose Bitcoin ETF (the “ETF”) will begin trading today on the Toronto Stock Exchange (“the TSX”) under the ticker BTCC.B and BTCC.U, respectively.

What is purpose and why should you invest in the ETF?

“By making Bitcoin more accessible to investors through the ETF, Purpose can accelerate the process of bringing cryptocurrency into the mainstream. Purpose is a leader in financial innovation and we at Ether Capital are thrilled to support Purpose.

Is there an investable bitcoin ETF?

While there is currently no investable bitcoin ETF on U.S. exchanges, there are exchange-traded bitcoin financial products available on European exchanges and an over-the-counter Bitcoin Trust in which investors can invest. New York-headquartered investment firm VanEck listed a bitcoin ETN in November 2020.

Is there a bitcoin ETF in Canada?

While American investors will still have to wait for a digital currency ETF that trades on a US exchange, Canada approved North America’s first Bitcoin ETF in February 2021. The Purpose Bitcoin ETF (BTCC) trades on the Toronto Stock Exchange (TSX) and is available in $CAD (FX hedged and unhedged) and in $USD (unhedged).