BREAKING NEWS in the crypto world. The first Bitcoin ETF is about to launch in North America
Official: The first Bitcoin ETF (aptly named BTCC) will be available for trading on the Toronto Stock Exchange (TSX) starting February 18th, 2021.
Canada has the first Bitcoin ETF – which holds significant advantages over managed Bitcoin funds like QBTC, which often trades at a significant premium to Bitcoin prices, on top of the management fee.
The new ETF from Purpose Investments will have a small 0.7% management fee and will be available in both US and Canadian dollars.
While I think it’s important to hold Bitcoin and/or other cryptocurrencies in a cold storage wallet or on a reliable exchange, the advantage of having Bitcoin through an ETF or exchange-traded fund, is that it can grow tax-free in registered investments, like the RRSP and the TFSA in Canada.
The Bitcoin ETF will also follow the price of Bitcoin much closer than a managed fund can do. With the volatility inherent in Bitcoin, this is very important, as price lagging can cause unexpected results.
This offering will likely push the price of Bitcoin up (in the long-term) as money current in TFSA’s and RRSP’s will likely move from traditional ETFs and stocks into this new Bitcoin ETF BTCC. It should also provide some more stability for the current prices which are at all-time highs.
(People don’t like withdrawing from their TFSA and RRSP – which are registered tax-advantaged savings vehicles in Canada.)
If you don’t own Bitcoin, I recommend checking out Shakepay, which you can purchase Bitcoin and Ethereum directly from their app, or their website.
You will get $30 bonus CAD when you deposit $100 using the link above.
Note to Canadians: If you join Shakepay, you can earn free Bitcoin daily by Shaking the App. See my video here that explains how this works:
HIGHLY RECOMMENDED!
Another reliable exchange in Canada is Coinberry:
(Get $20 when you trade $50 in crypto!)
Coinsquare is another reliable, audited exchange based on Toronto.
Want more crypto news? Join my newsletter:
Hey, I’m Andrew. I’m passionate about cryptocurrency, YouTube Ads, soccer and music. I run a private newsletter where I help you pick the right coins.
I also happen to run a SAAS that helps marketers give their shared links superpowers. Check out Linkalytics here.
Got a marketing question? Need some direction? Book a call with me.
