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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.
CIBC Investor's Edge
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.
Important: Share trading can be financially risky and the value of your investment can go down as well as up. “Standard brokerage” fee is the cost to trade $1,000 or less of ASX-listed shares and ETFs without any qualifications or special eligibility. If ASX shares aren’t available, the fee shown is for US shares. Where both CHESS sponsored and custodian shares are offered, we display the cheapest option.
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.
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