First BITCOIN ETF approved in Canada


Canada took a bold step this week. The OSC approved the “Purpose Bitcoin ETF.” That replicates the price development of Bitcoin (BTC) and does not represent a closed investment fund, which so far provided the only products on the Canadian market.

Many market observers believe it is more than likely that the U.S. could soon follow suit. Similarly, the Security and Exchange Commission (SEC) is not known for cultivating a liberal approach to the issue. In recent years, several applications from various companies have failed.

A new attempt is currently underway in the U.S., also launched again by VanEck in December 2020. While a Bitcoin ETF is not an attractive investment for enthusiasts and Bitcoin disciples, it is for diverse groups of investors who want to participate in the growth of Bitcoin without having to deal with the regulatory and technical aspects of acquisition and custody.

While many voices in the media have been critical of the recent hype surrounding Bitcoin and have suggested that Elon Musk and Tesla’s investment has a particular problem, Bitcoin is coming of age.

One can speculate on the rise or fall of just about any possible and impossible asset, but for BTC, the fun stops for some. Similarly, critics overlook the fact that Bitcoin has arrived in society. Not just because of Tesla or the Canadian push for an ETF.

Money needs to be converted into a new digital form. The idea that the world has found the Internet’s currency in Bitcoin, which is freely accessible to everyone, is increasingly spreading.