best bitcoin etf for canadians

Purpose Bitcoin ETF (BTCC) boasts the largest assets under management of $1.3 billion, offering Canadian investors a low management fee and exposure to Bitcoin's price performance.

Nov 04, 2024 at 02:36 am

Top Bitcoin ETFs for Canadians

Bitcoin exchange-traded funds (ETFs) are a convenient and regulated way for Canadian investors to gain exposure to the cryptocurrency market. Here are the top Bitcoin ETFs in Canada, ranked by assets under management:

1. Purpose Bitcoin ETF (BTCC)

• Assets under management: $1.3 billion
• Launched: February 2021
• Management fee: 1.0%

BTCC is the largest Bitcoin ETF in Canada and offers a low management fee. It tracks the daily performance of Bitcoin and is traded on the Toronto Stock Exchange.

2. Evolve Bitcoin ETF (EBIT)

• Assets under management: $493 million
• Launched: March 2021
• Management fee: 1.0%

EBIT is another popular Bitcoin ETF in Canada and is also traded on the Toronto Stock Exchange. It has a similar tracking objective to BTCC and charges a comparable management fee.

3. CI Galaxy Bitcoin ETF (BTCX)

• Assets under management: $255 million
• Launched: February 2021
• Management fee: 1.0%

BTCX is a Bitcoin ETF from CI Investments, one of Canada's largest asset managers. It is traded on the Toronto Stock Exchange and offers a diversified exposure to Bitcoin through multiple underlying funds.

4. 3iQ CoinShares Bitcoin ETF (BTCQ)

• Assets under management: $244 million
• Launched: March 2021
• Management fee: 1.25%

BTCQ is a Bitcoin ETF from 3iQ Corp, a Canadian investment manager specializing in cryptocurrency assets. It is traded on the Toronto Stock Exchange and offers monthly distributions of Bitcoin to unitholders.

5. Purpose Bitcoin Cash ETF (BCHC)

• Assets under management: $186 million
• Launched: January 2023
• Management fee: 1.0%

BCHC is a Bitcoin Cash ETF from Purpose Investments, the issuer of BTCC. It tracks the daily performance of Bitcoin Cash and is traded on the Toronto Stock Exchange.

Factors to Consider When Choosing a Bitcoin ETF

When choosing a Bitcoin ETF, Canadian investors should consider the following factors:

• Asset Size: The size of the ETF's assets under management indicates its popularity and liquidity.
• Management Fee: The ETF's management fee is an ongoing expense that must be taken into account.
• Trading Volume: The ETF's trading volume indicates how easy it is to buy and sell units.
• Underlying Holdings: The underlying holdings of the ETF determine how closely it tracks the performance of Bitcoin.

Conclusion

Bitcoin ETFs provide Canadian investors with a convenient and regulated way to gain exposure to the cryptocurrency market. By considering the factors listed above, investors can choose the Bitcoin ETF that best meets their needs and risk tolerance.