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How to invest in the BTCC Bitcoin ETF

To buy ETF units in BTCC, you'll first need to sign up to a broker with access to the Toronto Stock Exchange.

Kylie Purcell
Kylie Purcell

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The “world’s first” physical Bitcoin exchange traded fund (ETF), the Purpose Bitcoin ETF (TSX:BTCC), has officially launched on Canada’s Toronto Stock Exchange (TSX). This means you can now buy units in the ETF through a global stock broker or online share trading platform.

How to buy the BTCC ETF

  1. Compare online brokers. To invest in exchange traded funds (ETFs), you’ll need to sign up to an ETF broker platform. Our table below can help you choose.
  2. Open and fund your brokerage account. Complete an application with your personal and financial details, such as your ID and SIN number. Fund your account with a bank transfer, PayPal or debit card.
  3. Search for the Purpose Bitcoin ETF. Find the ETF by name or ticker symbol: BTCC. Research its history to confirm it’s a solid investment against your financial goals.
  4. Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until the Purpose Bitcoin ETF reaches your desired price. To spread out your risk, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. At today’s price, weigh your budget against a diversified portfolio that can minimize risk through the market’s ups and downs.
  6. Check in on your investment. Congratulations, you’ve invested in the Purpose Bitcoin ETF. Optimize your portfolio by tracking how your ETF performs with an eye on the long term.

What we know about BTCC

The Purpose Bitcoin ETF began trading on Thursday in Canada under the ticker symbols TSX:BTCC.B and TSX:BTCC.U. The BTCC.B fund is Canadian dollar denominated while the TSX:BTCC.U version is US dollar denominated. Neither option is currency hedged.

Launched by Purpose Investments and headed by CEO/founder Som Seif, the fund is designed to give investors exposure to the digital currency by investing in physically settled Bitcoin.

Although it has been called “the world’s first Bitcoin ETF” by the TSX, it’s worth noting that other “Bitcoin-themed” or blockchain ETFs do exist, although they track companies with exposure to digital currencies, rather than physical/digital Bitcoin. BTCC is the first direct custody Bitcoin ETF.

There are also several cryptocurrency funds available in Europe that behave similarly to ETFs. To check out other Bitcoin-related ETFs, check out our cryptocurrency ETF guide.

Compare ETF brokers

    Name Product Available asset types Stock Fee Option Fee Account Fee ETF Transaction Cost Feature Table description
    Wealthsimple Trade
    Wealthsimple Trade
    Stocks, ETFs
    $0
    N/A
    $0
    Free
    Zero commissions on Canadian stocks.
    Get a $25 bonus when you open a Wealthsimple Trade account and deposit and trade at least $100.
    Go to site
    More Info
    Interactive Brokers
    Interactive Brokers
    Stocks, Bonds, Options, ETFs, Currencies, Futures
    Min. $1.00, Max. 0.5% of trade value
    $1.50 min. per order
    $0 (if monthly commissions are greater than or equal to US$10.00)
    Min. $1.00, Max. 0.5% of trade value
    Extensive trading capabilities and global investment tracking.
    Access market data 24 hours a day, six days a week and invest in global stocks, options, futures, currencies, bonds and funds from one single account.
    Go to site
    More Info
    Qtrade Investor
    Qtrade Investor
    Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
    $6.95 - $8.75
    $6.95 - $8.75 + $1.25 per contract
    $0 if conditions met, else $25/quarter
    $0 - $8.75
    Trade 100 ETFs free of charge.
    Qtrade Investor offers low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options. Trade 100 ETFs free of charge and thousands more for $8.75 or lower.
    Go to site
    More Info
    Questrade
    Questrade
    Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
    $4.95-$9.95
    $9.95 + $1 per contract
    $0
    Free
    $0 account fee and free ETF transactions.
    Opt for self-directed investing and save on fees or get a pre-built portfolio and take some of the guesswork out.
    Go to site
    More Info
    Scotia iTRADE
    Scotia iTRADE
    Options, Mutual Funds, ETFs, GICs, International Equities
    $4.99-$9.99
    $9.99 + $1.25 contract ($4.99 + $1.25 contract if completed 150 trades or more a quarter)
    $0
    $9.99 ($4.99 if completed 150 trades or more a quarter)
    Pay no annual account fees.
    Buy, sell and trade ETFs, Equities, Options and more with competitive commissions.
    Go to site
    More Info
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    Compare up to 4 providers

    How to invest in ETFs

    To find out more about ETFs, you can head to our guide on how to invest in exchange traded funds or click on the video below.

    Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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