Ebene News – CA – First Bitcoin ETF in North America Launches in Canada

(Bloomberg) – North America’s first Bitcoin-tracking exchange-traded fund begins trading in Toronto on Thursday, at a potential watershed for the cryptocurrency and ETF industries

The Purpose Bitcoin ETF (ticker BTCC) provides exposure to the world’s largest cryptocurrency by investing directly in ‘physical / digital Bitcoin’, issuer Purpose Investments Inc says in a statement The fund will be available in Canadian dollars and US dollar units

While Europe has several “physically backed” Bitcoin exchange traded products that function effectively as an ETF, BTCC is the first to carry the ETF designation and the first such vehicle in North America No Bitcoin or Crypto ETF has only managed to get approval in US yet, although VanEck Associates Corp and Bitwise Asset Management have pending deposits

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Bitcoin, exchange-traded fund, cryptocurrency, investment fund

Ebene News – CA – North America’s first Bitcoin ETF launched in Canada

Source: https://financialpost.com/investing/first-bitcoin-etf-in-north-america-is-launching-in-canada