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North America’s first Bitcoin ETF got off to an excellent start on the first day of trading: investors exchanged shares worth 145 million USD from

After an unstoppable surge in the world’s largest digital currency, the first Bitcoin product to be officially labeled as an exchange-traded fund debuted in Toronto on Thursday – although there are several crypto-tracking products in Europe that work like an ETF The Purpose Bitcoin ETF (Ticker BTCC) invests directly in “physical / digital Bitcoin” Issuer Purpose Investments Inc said in a statement

The cryptocurrency has drawn investors from billionaire Elon Musk to hedge fund moguls like Alan Howard and Paul Tudor Jones. It could well be “the stimulus asset” Jeffrey Gundlach, LP chief of DoubleLine Capital, tweeted in a notice of Bitcoin’s rally amid a surge of cash pumped into the financial system during the pandemic while digital wealth has already quintupled over the past year – which is worrying beyond arouses a speculative foam in world markets – it is attracting more attention in the mainstream, especially after Tesla Inc.The last $ 5 billion purchase

It is unclear how much of the activity in BTCC will result in inflows for the fund, but trading volume is well above the typical first day of an ETF in Canada, according to Bloomberg Intelligence analysts James Seyffart, although too early to know judge, ETF proponents argue that such a fund will trade without the massive premiums that plague many current Bitcoin trusts in the U.S.

“There is significant untapped interest on a Bitcoin investment that offers the benefits of an ETF,” said Todd Rosenbluth, director of ETF Research at CFRA Research, adding that the fund is unlikely to come with a significant premium Traded to Net Asset Value “While most ETFs worldwide enter the market with an educational barrier to overcome, many investors are familiar with the content of BTCC,” he noted

The US. Several applications for a Bitcoin ETF are currently active, including that from VanEck Associates Corp. and Bitwise Asset Management, but cryptocurrency’s infamous price volatility and allegations of industry manipulation remain hurdles to regulatory approval, with the world’s largest digital trade near all-time highs and a change in leadership at the Securities and Exchange Commission, the outlook seems for one first American Bitcoin ETF to rise

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World News – CA – Bitcoin ETF roars on debut with trading volume of 145 million USD – BNN Bloomberg

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