best etf for bitcoin canada

Purpose Bitcoin ETF, the first physically-backed Bitcoin ETF in North America, remains the largest and most popular in Canada, offering direct exposure to Bitcoin's price without the need for a crypto wallet or exchange.

Oct 24, 2024 at 08:01 pm

Best Bitcoin ETFs in Canada

1. Purpose Bitcoin ETF (BTCC.B)

• Launched: February 18, 2021
• Management fee: 1.00%
• Tracking index: Solactive Bitcoin Index (Bloomberg ticker: SBTI)

Purpose Bitcoin ETF is the first physically-backed Bitcoin ETF in North America, and it remains the largest and most popular Bitcoin ETF in Canada. It provides investors with direct exposure to the price of Bitcoin without the need for a crypto wallet or exchange.

2. Evolve Bitcoin ETF (EBIT)

• Launched: February 18, 2021
• Management fee: 0.95%
• Tracking index: Nasdaq Bitcoin Index (Bloomberg ticker: BITI)

Evolve Bitcoin ETF is another physically-backed Bitcoin ETF that offers investors exposure to the price of Bitcoin. It has a slightly lower management fee than Purpose Bitcoin ETF but tracks a different index.

3. CI Galaxy Bitcoin ETF (BTCG.U)

• Launched: March 25, 2021
• Management fee: 1.25%
• Tracking index: Solactive Bitcoin Index (Bloomberg ticker: SBTI)

CI Galaxy Bitcoin ETF is a physically-backed Bitcoin ETF that also tracks the Solactive Bitcoin Index. It has a higher management fee than Purpose Bitcoin ETF and Evolve Bitcoin ETF, but it offers investors the convenience of being listed on the TSX Venture Exchange.

4. Horizons Bitcoin ETF (HBIT)

• Launched: April 14, 2021
• Management fee: 0.65%
• Tracking index: Alerian Bitcoin Index (Bloomberg ticker: ABTCSE)

Horizons Bitcoin ETF is a physically-backed Bitcoin ETF that tracks the Alerian Bitcoin Index. It has the lowest management fee among all the physically-backed Bitcoin ETFs in Canada.

5. 3iQ CoinShares Bitcoin ETF (BTCQ)

• Launched: April 28, 2021
• Management fee: 1.95%
• Tracking index: Grayscale Bitcoin Trust (GBTC)

3iQ CoinShares Bitcoin ETF is a unique Bitcoin ETF in that it does not hold Bitcoin directly. Instead, it invests in the Grayscale Bitcoin Trust, which is a publicly traded trust that holds Bitcoin. This structure provides investors with exposure to the price of Bitcoin while mitigating some of the risks associated with holding Bitcoin directly.

Choosing the Best Bitcoin ETF for You

When choosing a Bitcoin ETF, there are a few factors to consider:

• Management fee: The management fee is the annual percentage charge for investing in the ETF. Lower management fees will save you money over time.
• Tracking index: The tracking index is the underlying index that the ETF tracks. Different indices may have different methodologies for calculating the price of Bitcoin.
• Convenience: Some ETFs are listed on the TSX, while others are listed on the TSX Venture Exchange. The TSX is a more well-known and liquid exchange, but it may have higher trading fees than the TSX Venture Exchange.

Conclusion

Bitcoin ETFs provide investors with a convenient and secure way to invest in Bitcoin. When choosing a Bitcoin ETF, it is important to consider the management fee, tracking index, and convenience.