The first publicly traded bitcoin exchange-traded fund (ETF) in North America has collected $421.8 million in assets under management (AUM) in two days.
- Purpose Investment’s bitcoin ETF officially started trading on the Toronto Stock Exchange (TSX) under the ticker “BTCC” on Thursday.
- The fund has seen huge interest, trading well over $100 million shares on its first day, and by the end of Friday it had collected $421.8 million AUM.
- Bloomberg Intelligence ETFs analyst Eric Balchunas tweeted the Purpose Investment’s bitcoin ETF could reach $1 billion in assets by the end of next week.
- On Friday, another bitcoin ETF, the Evolve ETF, started trading on the TSX under the ticker “EBIT” and has $1.271 million AUM.
- Both Evolve and Purpose Investment’s bitcoin ETFs have a management fee of 1%.
- Purpose's index information is provided by TradeBlock, a CoinDesk subsidiary.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.