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The Globe and Mail Paul Brent Published April 13, 2021 Bookmark It has been long-held advice in the investing world that if you don’t understand something, it’s best not to put money into it. That advice looks to have gone by the wayside when it comes to the gold-rush atmosphere among retail investors for the new and growing crop of bitcoin exchange-traded funds. The first bitcoin ETF out of the gate, Purpose Financial LP’s Purpose Bitcoin fund (BTCC), has proven wildly popular with investors despite its relatively high management fee of 1 per cent. After less than two months, it already has more than $1.22-billion in assets under management. By comparison, Evolve Fund Group’s Bitcoin ETF (EBIT), launched one day later, has accumulated less than a tenth the assets of the Purpose ETF, despite cutting its management fee shortly after launch to 0.75 per cent..

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