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Third Bitcoin ETF Expected to Launch in Canada This Week

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Tanzeel Akhtar
·1 min read
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Yet another bitcoin exchange-traded fund (ETF) is expected to list on the Toronto Stock Exchange on Tuesday.

  • According to an announcement from provider CI Global Asset Management, regulators have approved the final prospectus for the “CI Galaxy Bitcoin ETF.”

  • The ETF is expected to begin trading on the Toronto Stock Exchange (TSX) on Tuesday, subject to approval from the bourse, under the ticker “BTCX.”

  • BTCX will give investors exposure to bitcoin by investing directly in the cryptocurrency with holdings priced using the Bloomberg Galaxy Bitcoin Index.

  • The listing, if approved, would make BTCX the third bitcoin ETF in North America.

  • In February, similar products from Evolve Funds Group and Purpose Investment both listed on the TSX.

  • “I believe our ETF stands out based on its highly competitive price point and CI and Galaxy’s extensive capabilities and track record in managing alternative investments and digital assets,” said Kurt MacAlpine, CEO of CI Financial, the parent company of the CI Global Asset Management.

Read more: Canada’s CI Global Files for What Would Be World’s First Ether ETF

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