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How to buy Purpose Bitcoin ETF (BTCC) shares in India

Learn how to easily invest in Purpose Bitcoin ETF shares.

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 stockbroker or online share trading platform.

While this is simple enough if you’re Canadian, Indian investors wanting to trade BTCC will need to do a little homework. There are limited brokers that offer Canadian stocks or ETFs in India and often the fees to invest are much higher than if you’re buying US or Indian securities.

Some online brokers that offer low-cost trades on Canadian securities include Saxo Capital Markets and Interactive Brokers. You can check out how these brokers compare in the comparison table below.

How to buy the BTCC ETF from India

  1. Compare online brokers. You’ll first need to sign up to an ETF broker platform with access to Canadian stock exchanges. 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 Aadhaar number. Fund your account with a bank transfer, credit card or debit card.
  3. Search for the Purpose Bitcoin ETF. Find the BTCC ETF by name or ticker symbol: BTCC. Research its history to confirm it’s a solid investment for 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 minimise risk through the market’s ups and downs.
  6. Check in on your investment. Congratulations, you’ve invested in the Purpose Bitcoin ETF. Optimise 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 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. At the time of writing, there are no cryptocurrency ETFs listed on Indian markets.

Compare global ETF brokers

Name Product Number of stocks CFDs Shares Available Markets Link
Axis Direct
All NSE/BSE listed stocks
No
Yes
IN
Go to site
More info
Get brokerage cashback of up to Rs 500 on trades done online through Axis Direct website, Swift Trade, or Mobile app. Grow your investment portfolio and maximise your gains with AxisDirect’s 3-in-1 demat, trading and savings account.
Saxo Bank
19,000+
Yes
Yes
AU, CN, CZ, DK, ES, FR, TW, HK, IT, HU, SA, NE, NO, PL, RU, SG, CH, UK, JP
Go to site
CFD service. Your capital is at risk.
More info
CFD Service. Your capital is at risk.
Trade 40,000+ financial instruments at market-leading prices with this powerful yet intuitive trading platform.
Zacks Trade
Access to global markets
No
Yes
US, AU, ES, FR, HK, IT, NO, RU, SG, CH, UK, JP, MX, DE, CA, AUT, BEL, NL, SE
Go to site
More info
CFD Service. Your capital is at risk.
Trade stocks, bonds, ETFs, options, and more on 90+ international exchanges. Offers customisable trading platforms with over 120 technical indicators for your charting needs.
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Compare up to 4 providers

How to invest in ETFs

To find out more about ETFs, you can 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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