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

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Tanzeel Akhtar
·1 min read
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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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