Canada’s First Bitcoin ETF Hits $421.8M AUM in Two Days

One analyst said the ETF could reach $1 billion in assets under management by the end of next week.

AccessTimeIconFeb 20, 2021 at 5:20 p.m. UTC
Updated Mar 8, 2024 at 4:18 p.m. UTC
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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.

Read more: State of Crypto: Will 2021 Finally Be the Year of the Bitcoin ETF?

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Tanzeel Akhtar

Tanzeel Akhtar is a reporter based in London,UK.


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