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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.

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.

While this is simple enough if you’re Canadian, Kiwis who want to invest in BTCC will need to do a little homework. There are limited brokers that offer Canadian stocks or ETFs in New Zealand and the process isn’t quite as simple as buying into US securities.

Popular share trading platforms such as Sharesies, Hatch and Stake don’t offer access to the TSX, but all is not lost. ASB Securities does allow traders to invest in Canadian shares and ETFs, but it’s worth pointing that interested traders will have call to ASB and make their buys over the phone – online trading is not an option for non-NZ or AU shares through ASB.

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.

There are no cryptocurrency ETFs listed on the New Zealand Exchange (NZX).

Compare all ETF brokers

Name Product Available Investment Types Min. Monthly Fee Available Markets
OFFER
Hatch
Shares, ETFs
$0
US
Sign up to Hatch through Finder and get a $20 top-up when you deposit $100 or more. Invest in more than 4,100 US companies and exchange-traded funds (ETFs) - no minimum investment or monthly fees.
OFFER
Stake
Shares, ETFs
$0
US
Sign up through Finder and use referral code "FINDERNZ" for a free stock valued up to US$150. Trade more than 4,500 US-listed stocks and ETFs through Stake with $0 fees on trades.
Sharesies
Shares, ETFs, Managed Funds, Index Funds
$0
US, NZ, AU, Funds with exposure to multiple markets
Trade and invest in more than 5,000 companies, ETFs and managed funds across New Zealand, the US and Australia.
Smartshares
ETFs
$0
US, NZ, AU, Funds with exposure to multiple markets
ASB Securities
Shares, ETFs, Bonds
$0
NZ, AU, Funds with exposure to multiple markets
Direct Broking
Shares, ETFs, Bonds
$5 per month
NZ, AU, Funds with exposure to multiple markets
InvestNow
ETFs, Managed Funds, Index Funds
$0
NZ, Funds with exposure to multiple markets
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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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