BTCC:CC - 11 Canadian Crypto ETFs (Updated 2024)

2024-07-08 16:20:00 ET

Cryptocurrencies such as Bitcoin and Ethereum offer an alternative route for building and storing wealth. While directly holding these digital assets is a popular option, investors are also clamoring for financial products such as cryptocurrency exchange-traded funds (ETFs).

Canada first launched Bitcoin and Ethereum ETFs in 2021. These Canadian Bitcoin and Ethereum ETFs allow investors to place returns in tax-sheltered accounts like tax-free savings accounts or registered retirement savings plans.

“There is a high demand for a Bitcoin product that has all the features that people love about ETFs — that they trade on an exchange, that they’re liquid,” Ross Mayfield, investment strategy analyst at Robert W. Baird & Co., told Bloomberg in mid-2021.

Interest has only increased since then. Sean Farrell, head of digital asset strategy at Fundstrat, wrote in mid-2023 that the Bitcoin ETF category at large has the potential to surpass the precious metals ETF market in terms of asset value. "Bitcoin ETF eventually could become >$300 billion category," he stated in the note.

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