Canada’s first Bitcoin ETF under management has exceeded US$400 million

On February 18, local time, Canada’s first Bitcoin ETF ( Exchange Traded Fund) was officially listed on the Toronto Stock Exchange. In just two days, the fund’s asset management scale has exceeded 400 million US dollars.

The fund is issued by Purpose Investment Company, the issuance code isBTCC. The trading volume of the fund on the first day of listing reached US$145 million. The current transaction volume has increased to 421 million US dollars.

Bloomberg’s financial reporter Eric Balchunas said on Twitter yesterday that Purpose’s Bitcoin fund has “shattered our estimates.” He believes that if this fund can maintain its growth rate, BTCC will become “Canada’s largest ETF” within 20 days.


Purpose is the first Bitcoin ETF in North America, and Canada approved two Bitcoin ETFs this month. Purpose’s ETF was launched on Wednesday, with a trading volume of 80 million US dollars in the first hour, and a trading volume of 165 million US dollars on the day. By the end of the second day, it had accumulated a transaction volume of 421 million US dollars. Evolve launched Canada’s second Bitcoin ETF on Friday.

There will be more Bitcoin ETFs in Canada. CI Financial yesterday submitted a preliminary prospectus for its Bitcoin ETF. 3iQ also submitted a preliminary prospectus for the Bitcoin ETF last week.

Seeking a low-risk way to manage Bitcoin bull market investments are concerned, ETF investment provides an audit tool, the tool can make full use of the advantages of compliance, to help investors reduce risk. Whether it is possible that the price of Bitcoin may plummet or that its blockchain network has security issues, Bitcoin ETFs will protect fund investors in the form of traditional financial products.


Market observers predict that the development of Bitcoin ETFs in Canada may put pressure on US securities regulators. Appointed to the U.S. Securities and Exchange Commission last year (SEC) Commissioner’s Hester Peirce (Hester Peirce) is nicknamed “crypto mom” because he is familiar with the crypto industry and has always been friendly to the crypto industry. Pierce said in an interview with foreign media on the 11th of this month that she believes that the US capital market is ready for Bitcoin ETP.

Although there have been bitcoin trusts like Grayscale, the SEC has not yet approved the US bitcoin ETF. It is worth noting that since the resignation of former SEC chairman Jay Clayton, companies such as VanEck and Valkyrie Digital Assets have re-applied for Bitcoin ETFs. If Canada’s Bitcoin ETF can continue to remain strong, it is likely to prompt US regulators to reconsider Bitcoin ETF.

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