There is no end to the positive developments surrounding Bitcoin. Now, Canada’s Purpose Investments has launched the first exchange-traded Bitcoin fund on Feb. 11.
The Purpose Bitcoin ETF, approved by the Canadian government, becomes the first exchange-traded crypto fund (ETF) in North America. CAD and USD versions will be traded on the Toronto Stock Exchange under the BTCC and BTCC.U, respectively.
According to the prospectus, the ETF will be audited by Big Four consulting firm Ernst and Young. Cidel Trust will handle custody duties in Canada, while Gemini Trust Company, owned by Tyler and Cameron Winklevoss, will be the sub-trustee for non-Canadian holdings.