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North America’s first Bitcoin ETF got off to a great start on its first day of trading In the first hour, investors traded shares valued at $ 80 million

The Purpose Bitcoin ETF (ticker BTCC), which debuted in Toronto on Thursday, invests directly in “physical / digital Bitcoin” Issuer Purpose Investments Inc said in a statement it is the first product for Bitcoin to be officially classified as an exchange-traded fund, despite Europe having several “physically secured” funds Bitcoin products that work like an ETF

While it is unclear how much of the activity in BTCC will result in inflows for the fund, the trading volume even in the much larger U is well above the typical first day of an ETFS Market

Although too early to judge, ETF proponents argue that such a fund will trade without the massive premiums that plague many current Bitcoin trusts in the US

The US. There are currently several active filings for Bitcoin ETFs, including those from VanEck Associates Corp. and Bitwise Asset Management, but cryptocurrency’s notorious price volatility and allegations of industry manipulation remain hurdles to regulatory approval

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Bitcoin ETF Canada, Purpose Bitcoin etf

World News – CA – Bitcoin ETF debuts with $ 80 million in first hour trades – BNN Bloomberg

Source: http://www.bnnbloomberg.ca/first-bitcoin-etf-in-north-america-is-launching-in-canada-1.1565281