The world’s most popular cryptocurrency has entered North America’s mainstream financial market via the
Purpose Bitcoin ETF. The first exchange-traded fund in the region will track bitcoin’s price through the TradeBlock XBX Index. Canadian regulators beat their American counterparts to the punch.
The high trading volume (9.65 million shares) on February 18, 2021, the market debut, indicates a favourable reception and a strong demand. A would-be investor has two options to purchase the Purpose Bitcoin ETF. If you prefer a Canadian dollar-denominated, non-currency-hedged version, buy the BTCC.B. For the U.S. dollar-denominated ETF, pick the ticker symbol BTCC.U.
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Evolve Announces Bitcoin ETF Begins Trading on TSX
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Evolve ) is pleased to announce the launch of the Bitcoin ETF (
EBIT ).
EBIT has closed its initial offering of units and will begin trading on the Toronto Stock Exchange (
TSX ) today under the ticker symbol
EBIT. The recent institutional adoption has helped further legitimize the progress of bitcoin, says Raj Lala, President and CEO at Evolve. Being able to offer an ETF which holds physical bitcoin is a real game changer in Canada. Now investors may participate in bitcoin via their brokerage accounts within their RRSP and TFSA. Bitcoin has proven to be a store of value that is uncorrelated to other major asset classes – and has now emerged as an asset class itself.
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