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Third Bitcoin ETF Expected to Launch in Canada This Week
If approved, North America's third bitcoin ETF is planned for listing on Tuesday.
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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Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
