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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.

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By

Arline Groenewald

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, South Africans wanting to invest in BTCC will need to do a little homework. There are limited brokers that offer Canadian stocks or ETFs in South Africa and often the fees to invest are much higher than if you’re buying US or Australian securities, for instance.

One online broker that offers R0 brokerage trades on Canadian securities is CMC Markets. Other brokers include Saxo Capital Markets, CommSec, Phillip Capital and Interactive Brokers. You can check out how other brokers compare in the comparison table below.

How to buy the BTCC ETF

  1. Compare online brokers. To invest in exchange traded funds (ETFs) listed in Canada, you’ll 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. 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 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 on Thursday 18 February, 2021 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.

Despite asset management firm Sygnia trying to launch its own crypto ETF back in 2018, at the time of writing, there are no cryptocurrency ETFs listed on the Johannesburg Stock Exchange (JSE). To find out more about how the Purpose Bitcoin ETF (BTCC) works, check out our post that goes into detail about the ins and outs of this new ETF.

Compare global ETF brokers

1 - 8 of 8
Updated regularly
Name Product Number of Stocks CFDs Shares Markets
AvaTrade
AvaTrade
Access to global markets
Yes
No
Worldwide with exception.
CFD Service. Your capital is at risk.
Trade over 1,200 instruments online with Avatrade, including stocks, cryptocurrencies, forex, commodities and indices. The minimum deposit with Avatrade is US$100.
Go to site
Plus500
Plus500
2,000+
Yes
No
Worldwide with exception.
CFD Service. Your capital is at risk.
Trade over 2,500 financial instruments with one of the largest CFD providers in the world.
Go to site
More Info
Zacks Trade
Zacks Trade
Access to global markets
No
Yes
US, CA, MX, AT, BG, FR, DE, IT, NL, ES, NO, SE, SW, UK, HK, JP, SG, RU, AU
Trade stocks, bonds, ETFs, options, and more on 90+ international exchanges. Offers customizable trading platforms with over 120 technical indicators for your charting needs.
Go to site
More Info
Eightcap
Eightcap
Access to global markets
Yes
No
UK, DE, AU
CFD Service. Your capital is at risk.
Trade a wide variety of instruments on the award-winning MT4/5 platforms with this Australia-based CFD and forex broker.
Go to site
More Info
Firstrade
Firstrade
Access to US stocks
No
Yes
US
CFD Service. Your capital is at risk.
Enjoy $0 commission trading for stocks, options, funds, and more with this internationally-acclaimed discount broker.
Go to site
More Info
CM Trading
CM Trading
N/A
Yes
No
US, FR, DE, UK, AU, ZA, CH. HK, JP, ES, NL, IT
CFD Service. Your capital is at risk.
Licensed international brokerage and CFD provider that offers advanced trading solutions designed for both new and experienced traders alike.
More Info
Exness
Exness
N/A
Yes
No
CH, VN, TH, PH, SG, ID, IN, UAE, ZA, SA, EG, BR, CR, MX
CFD Service. Your capital is at risk.
Enjoy fast trade executions at competitive fees with this award-winning retail forex broker.
More Info
Interactive Brokers
Interactive Brokers
Access to global markets
No
Yes
US, MX, RU, ES, UK, DE, IL, HK, SG, IN, KR, AU, CH, HU, CA
CFD Service. Your capital is at risk.
Take advantage of low trading fees, multiple platform support, and an extensive list of asset classes across global markets, including stocks, options, futures, forex, bonds, and funds.
More Info
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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.

Important information: Powered by finder.com. This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. 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 most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.

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