THELOGICALINDIAN - There are now three bitcoin exchangetraded funds ETFs in North America all accustomed aural the accomplished ages by Canadas balance regulators They are currently trading on the Toronto Stock Exchange The latest accustomed bitcoin ETF backed by Mike Novogratzs Galaxy Digital began trading Tuesday
3 Bitcoin ETFs in Canada
Canada’s balance regulators accept accustomed three bitcoin exchange-traded funds (ETFs) aural the accomplished month. The aboriginal accustomed North American bitcoin ETF was Purpose Bitcoin ETF, followed by Evolve Bitcoin ETF. Both are now trading on the Toronto Stock Exchange (TSX).
The third one is CI Galaxy Bitcoin ETF, which started trading on the TSX barter Tuesday. This bitcoin ETF is trading beneath the ticker symbols BTCX.B and BCTX.U. The above trades unhedged in Canadian dollars while the closing trades in U.S. dollars. The advertisement describes:
The newest North American bitcoin ETF is managed by CI Global Asset Management, one of Canada’s arch advance managers. Galaxy Digital Capital Management LP, the Asset Management arm of Galaxy Digital, serves as the bitcoin sub-advisor and executes bitcoin trading on account of the ETF.
The advertisement added capacity that “BTCX invests anon in bitcoin with its backing priced application the Bloomberg Galaxy Bitcoin Index,” which advance the achievement of a distinct bitcoin in U.S. dollars. The basis is endemic and administered by Bloomberg Basis Services Ltd.
CI Global Asset Management has several added crypto products. The close launched the CI Galaxy Bitcoin Fund (TSX: BTCG) in December 2023, which it intends to absorb into the ETF. Moreover, it is in the action of ablution CI Galaxy Ethereum ETF, which it expects to become “the aboriginal ETF in the apple to advance anon in ether.”
The armamentarium administrator has additionally “filed and acquired receipts for the basic prospectuses of CI Bitcoin and CI Ether Funds, which are alternate armamentarium versions with the aforementioned advance objectives as BTCX and the Ether ETF, respectively,” the advertisement adds.
Mike Novogratz, Chairman and Chief Executive Officer of Galaxy Digital, commented:
Do you anticipate the U.S. SEC will bolt up to Canada and accept a bitcoin ETF soon? Let us apperceive in the comments area below.
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