What is the best crypto ETF in Canada?
Investing in cryptocurrency has become increasingly popular in recent years, and with it, the demand for crypto ETFs has grown. In Canada, there are several options for investors looking to gain exposure to the crypto market through ETFs. In this post, we will explore some of the best crypto ETFs available in Canada.
- Purpose Bitcoin ETF (BTCC)
Launched in February 2021, the Purpose Bitcoin ETF was the first ETF in North America to invest directly in bitcoin. The ETF invests solely in bitcoin and aims to provide investors with exposure to the digital currency without the need for a digital wallet. The ETF is highly liquid and trades on the Toronto Stock Exchange (TSX).
- Evolve Bitcoin ETF (EBIT)
The Evolve Bitcoin ETF was launched shortly after the Purpose Bitcoin ETF and also invests directly in bitcoin. However, unlike the Purpose ETF, the Evolve ETF may also hold other digital assets, such as ethereum, as well as cash and cash equivalents. The ETF is also highly liquid and trades on the TSX.
- CI Galaxy Bitcoin ETF (BTCX)
The CI Galaxy Bitcoin ETF invests directly in bitcoin and aims to provide investors with exposure to the digital currency through a secure and convenient investment vehicle. The ETF is highly liquid and trades on the TSX.
- 3iQ CoinShares Bitcoin ETF (BTCQ)
The 3iQ CoinShares Bitcoin ETF invests directly in bitcoin and aims to provide investors with exposure to the digital currency through a regulated investment vehicle. The ETF is highly liquid and trades on the TSX.
- Purpose Ether ETF (ETHH)
Launched in April 2021, the Purpose Ether ETF was the first ETF in North America to invest directly in ether, the second-largest cryptocurrency by market capitalization. The ETF aims to provide investors with exposure to ether without the need for a digital wallet. The ETF is highly liquid and trades on the TSX.
- Evolve Ether ETF (ETHR)
The Evolve Ether ETF was launched shortly after the Purpose Ether ETF and also invests directly in ether. However, like the Evolve Bitcoin ETF, it may also hold other digital assets, as well as cash and cash equivalents. The ETF is highly liquid and trades on the TSX.
- 3iQ CoinShares Ether ETF (ETHQ)
The 3iQ CoinShares Ether ETF invests directly in ether and aims to provide investors with exposure to the digital currency through a regulated investment vehicle. The ETF is highly liquid and trades on the TSX.
Investing in crypto ETFs can be a convenient way for investors to gain exposure to the rapidly growing crypto market without having to worry about the security risks associated with holding digital assets directly. However, it is important to note that investing in crypto is still considered high-risk and investors should do their due diligence before investing.
In conclusion, Canada offers a range of options for investors looking to gain exposure to the crypto market through ETFs. The above-mentioned ETFs are some of the best options available and have been designed to provide investors with a convenient and secure way to invest in digital assets. As always, investors should consult with a financial advisor before making any investment decisions.
