List of Bitcoin Spot ETFs
Purpose Bitcoin ETF (BTCC)
- Issuer: Purpose Investments
- Launch Date: February 18, 2021
- Description: This was the first Bitcoin ETF to launch in North America, offering a direct exposure to Bitcoin through physical holdings. It is traded on the Toronto Stock Exchange (TSX) and is available in both Canadian and U.S. dollar versions.
- Features:
- Tracks Bitcoin price directly
- Holds actual Bitcoin
- Provides daily NAV updates
- Available in CAD and USD versions
Evolve Bitcoin ETF (EBIT)
- Issuer: Evolve ETFs
- Launch Date: February 19, 2021
- Description: This ETF provides investors with direct exposure to Bitcoin through physical Bitcoin holdings. It is also traded on the TSX and aims to track Bitcoin's performance as closely as possible.
- Features:
- Direct Bitcoin holdings
- Trades on TSX
- Aims to reflect Bitcoin’s spot price
- Daily liquidity
CI Galaxy Bitcoin ETF (BTCX)
- Issuer: CI Global Asset Management
- Launch Date: March 9, 2021
- Description: This ETF is designed to provide direct exposure to Bitcoin with the added benefit of being managed by CI Global Asset Management in partnership with Galaxy Digital. It is traded on the TSX.
- Features:
- Direct Bitcoin exposure
- Managed by CI and Galaxy Digital
- Trades on TSX
- Reflects Bitcoin’s spot price
VanEck Bitcoin ETF (XBTF)
- Issuer: VanEck Associates Corporation
- Launch Date: November 16, 2021
- Description: This ETF is traded on the Chicago Board Options Exchange (CBOE) and provides investors with direct exposure to Bitcoin. It aims to track the price of Bitcoin with minimal tracking error.
- Features:
- Direct exposure to Bitcoin
- Trades on CBOE
- Seeks to minimize tracking error
- Transparent holdings
Grayscale Bitcoin Trust (GBTC)
- Issuer: Grayscale Investments
- Launch Date: September 25, 2013
- Description: Although not a traditional ETF, GBTC operates similarly to an ETF. It allows investors to gain exposure to Bitcoin through a publicly traded security. GBTC holds Bitcoin and its price tends to reflect Bitcoin’s market price, though it often trades at a premium or discount.
- Features:
- Provides Bitcoin exposure
- Trades on OTCQX
- Holds Bitcoin directly
- Subject to premium/discount fluctuations
Comparison Table
| ETF Name | Issuer | Launch Date | Exchange | Holdings Type | Currency |
|---|---|---|---|---|---|
| Purpose Bitcoin ETF | Purpose Investments | 2021-02-18 | TSX | Physical Bitcoin | CAD/USD |
| Evolve Bitcoin ETF | Evolve ETFs | 2021-02-19 | TSX | Physical Bitcoin | CAD |
| CI Galaxy Bitcoin ETF | CI Global Asset Management | 2021-03-09 | TSX | Physical Bitcoin | CAD |
| VanEck Bitcoin ETF | VanEck Associates Corp. | 2021-11-16 | CBOE | Physical Bitcoin | USD |
| Grayscale Bitcoin Trust | Grayscale Investments | 2013-09-25 | OTCQX | Physical Bitcoin | USD |
Key Considerations for Investors
- Liquidity: Ensure that the ETF you choose has sufficient trading volume to facilitate ease of buying and selling.
- Management Fees: Consider the management fees associated with the ETF, as they can impact your overall returns.
- Tracking Error: Look for ETFs with minimal tracking error to ensure that the price of the ETF closely matches the price of Bitcoin.
- Tax Implications: Be aware of the tax implications of investing in Bitcoin ETFs in your jurisdiction.
Investing in Bitcoin Spot ETFs provides a way for investors to gain exposure to Bitcoin while potentially mitigating some of the complexities of direct Bitcoin ownership. As with any investment, it’s crucial to conduct thorough research and consult with financial advisors to ensure that the investment aligns with your financial goals and risk tolerance.
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