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How to buy the Purpose Ether Yield ETF (ETHY)
One of the world’s first Bitcoin ETFs to pay a monthly dividend yield is launching on the TSX. Here’s how to invest in Canada.
Read more…One of the world’s first physical Bitcoin ETFs to pay out a monthly dividend yield—the Purpose Bitcoin Yield ETF (TSX:BTCY)—has launched on Canada’s Toronto Stock Exchange (TSX). You’ll need a Canadian stock trading account to buy in.
Best crypto exchanges in Canada
The Purpose Bitcoin Yield ETF began trading on Friday December 3, 2021 in Canada under the ticker symbols TSX:BTCY, TSX:BTCY.B and TSX:BTCY.U. The BTCY.B fund is Canadian dollar denominated while the TSX:BTCY.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 indirectly in long-term holdings of Bitcoin.
It’s worth noting that other “Bitcoin-themed” or blockchain ETFs do exist, however, these track companies with exposure to digital currencies, rather than physical/digital Bitcoin. Similar to the Purpose Ether Yield ETF (ETHY), BTCY is one of the first direct custody Bitcoin ETFs that will regularly pay out dividends.
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.
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.
One of the world’s first Bitcoin ETFs to pay a monthly dividend yield is launching on the TSX. Here’s how to invest in Canada.
Read more…Purpose Investments is preparing to launch another crypto ETF, which will give investors broad exposure to the cryptocurrency industry.
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