Ebene News – CA – Bitcoin ETF roars in debut with $ 80 million in early trading – BNN Bloomberg

46 min ago

North America’s first Bitcoin ETF got off to a flying start on its first day of trading, with investors trading $ 80 million in shares in the first hour

The Purpose Bitcoin ETF (ticker BTCC), which debuted in Toronto on Thursday, invests directly in physical / digital Bitcoin, ???? Issuer Purpose Investments Inc says in a statement This is the very first product for Bitcoin to be officially labeled an exchange-traded fund, although Europe has several “physically supported” Bitcoin products that work like an ETF

While it is unclear to what extent BTCC’s activity will result in entries for the fund, trading volumes are much higher than the typical first day of an ETF, even in the largest US market

Although it is too early to tell, ETF supporters argue that such a fund will trade without the massive premiums that plague many current Bitcoin trusts in the US

The US currently has several active deposits for Bitcoin ETFs, including those from VanEck Associates Corp and Bitwise Asset Management, but notorious price swings in cryptocurrencies and allegations of industry manipulation remain hurdles for regulatory approval

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Ebene News – CA – Bitcoin ETF debuts with $ 80 million in early trading – BNN Bloomberg

Source: http://www.bnnbloomberg.ca/first-bitcoin-etf-in-north-america-is-launching-in-canada-1.1565281