World’s First Bitcoin ETF Garners $624 Million in Nine Days

2021-2-26 15:02

The Purpose Investments Bitcoin Exchange Traded Fund (ETF) has reached $624 million in value in a matter of only nine days.

The ETF notably passed the $400 million AUM mark just two days after its launch on Feb. 18.

The fund has currently amassed 10,064 BTC. It trades under the tickers “BTCC.B” and “BTCC.U.” The former is the Canadian dollar-denominated fund and the latter is the U.S. dollar-denominated ETF.

Bitcoin: Purpose Bitcoin ETF Holdings by Glassnode

Purpose’s Bitcoin ETF is the first in the world to be backed by physically settled BTC. The ETF is registered in Canada and trades on the Toronto Stock Exchange.

Purpose Investments will be the manager of the ETF with the Ether Capital Corporation acting as a special consultant. Ether Capital is a platform that allows public market investors to gain exposure to Ethereum and the Web 3 ecosystem.

Bitcoin ETF Price War

Just the day before the launch of Purpose’s Bitcoin ETF fund on Feb. 18, Canadian financial regulator the Ontario Securities Commission (OSC) approved the second North American publicly traded ETF for Evolve.

Evolve’s Bitcoin ETF also trades on the Toronto stock exchange under the ticker “EBIT” and “EBIT.U”. It currently only has $38.24 million worth of BTC under AUM, which is dwarfed in comparison to Purpose’s AUM of $624 million.

To encroach on Purpose’s market share in the Bitcoin ETF market, Evolve started a price war. It did this by lowering the price of its EBIT Bitcoin ETF from 1% to 0.75%. This makes Evolve’s ETF cheaper than the 1 % expense ratio of the Purpose BTC ETF (BTCC).

USA Still Cautious

As reported by Washington Post, a Bitcoin ETF in the United States could be actually happening.

In fact, Valkyrie has filed with the United States Securities and Exchange Commission (SEC). If successful, this ETF would become the first BTC ETF fund registered in the United States and would be listed on CBOE’s BCX exchange.

This is not the first time a US-based firm has done so. Late last year in December, VanEck filed for a BTC ETF with the SEC for the third time.

While US regulators haven’t taken easily to the concept of a Bitcoin ETF, Canadian regulators seem quite open to the possibilities they offer. Considering this, CI Global Asset Management (CI GAM) announced that it has filed for an Ethereum ETF with the OSC. If the filing is successful, the fund would be the first Ethereum ETF.

The post World’s First Bitcoin ETF Garners $624 Million in Nine Days appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

EthereumFog (ETF) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 ETF

days million fund btcc etf 064 amassed

Источник: beincrypto.com

days million → Результатов: 126


$600 Million: MicroStrategy Announces Plan to Raise Money to Buy More Bitcoin

Bitcoin has seen some mixed price action over the past couple of days, first seeing a massive selloff before testing new highs of over $50,000 The cryptocurrency has since erased these highs and plunged lower, with bulls failing to take firm control of its price action This has taken a toll on altcoins, with many seeing notable losses as the benchmark crypto continues regaining some recently lost market dominance Although its price action may look […]

2021-2-16 21:00


How Covesting Copy Trading Module Trader Turned $400,000 Into $8 Million in 4 Days

A trader, on popular Bitcoin trading platform PrimeXBT, recently had a successful run that netted him a total return of over 1,800%. However, where it becomes interesting is that through copy-trading, followers of the trader — Satoshi Bets — managed to profit from his successful run by turning $400,000 into $8 million in a matter […]

2021-2-16 03:01


Фото:

Sleeping Bitcoins Worth $40 Million Move- Mystery Miner Spends Another 1,000 BTC From 2010 Block Rewards

On January 10, another strange string of 20 bitcoin block rewards from 2010 was spent after sitting idle for over ten years. The spending of 1,000 decade-old bitcoins worth over $39 million today, follows the recent string of 1,000 units transferred on the 12th anniversary of Bitcoin’s genesis block launch. Seven days ago an old-school […]

2021-1-11 20:30


Efficient Market Hypothesis: MicroStrategy’s $650M Bitcoin Buy Has Barely Been Priced In

Bitcoin price is making an attempt to get back over $18,000 after it flirted with the mid-$17,000 range in the overnight hours. The leading cryptocurrency by market cap has only bled further over the last several days since MicroStrategy CEO Michael Saylor revealed his company’s plans to offer convertible senior notes to raise $650 million […]

2020-12-12 04:00


Foxconn Ransomware Attackers Demanded $35 Million Payment In Bitcoin (BTC) to Decrypt Files

According to reports from BleepingComputer, Foxconn, one of the largest electronic companies in the world, was faced with a ransomware attack by a popular hacking group, DopperPaymer. The report confirms the hack was first noticed on November 29th when the hackers gave the company 3 days to make a ransom payment to an unknown wallet […] The post Foxconn Ransomware Attackers Demanded Million Payment In Bitcoin (BTC) to Decrypt Files first appeared on BitcoinExchangeGuide.

2020-12-9 21:19


Фото:

Coinbase Says It Brokered Microstrategy’s Influential $425 Million Bitcoin Buy

U. S. crypto exchange Coinbase said Tuesday that it brokered Microstrategy’s $425 million bitcoin purchase earlier this year. Until now, it has not been clear who facilitated the deal. Microstrategy’s first bitcoin (BTC) haul of $250 million bought in August was executed over five days, Coinbase revealed in a case study of the transactions.

2020-12-2 08:30


Фото:

Institutional Investors ETPs Generate Crazy Gains as Bitcoin Bull Run Continues 

Bitcoin exchange-traded products (ETPs) floated by leading institutional investors such as Grayscale, which recently surpassed the $10 million AUM mark, Wisdom Tree, and others, have seen a massive increase in market capitalization and volume in the last 30 days thanks to the ongoing bitcoin (BTC) bull run, according to a CryptoCompare’s Digital Asset Management ReviewRead MoreRead More.

2020-11-19 00:00


Пользователи переместили 1 млн Bitcoin Cash на биржи в преддверии хардфорка

За последнюю неделю держатели Bitcoin Cash (BCH) переместили на криптовалютные биржи более 1 млн монет (~$255 млн) накануне предстоящего 15 ноября хардфорка в сети. Over 1 million Bitcoin Cash has been sent to exchanges in the last seven days ahead of the hard fork on 15 November, driving the BCH price relative to BTC even lower.

2020-11-12 11:31


Фото:

Bitcoin’s Volume Profile: Move Past $12,000 Will Ignite Bull Run to $16,500

Bitcoin’s price action has grown stagnant over the past few days and weeks, with the cryptocurrency struggling to gain momentum as bulls and bears battle for control of its near-term trend. Last week, the benchmark digital asset incurred some serious momentum after news broke regarding Square’s acquisition of $50 million worth of BTC. This news […]

2020-10-14 00:00


Фото:

This Historically Accurate Fractal Suggests Bitcoin Will Soon Hit $15,500

Bitcoin is currently seeing a strong upswing that has led it past multiple heavy resistance levels This move comes just days after tech giant Square announced their plan to hold $50 million worth of Bitcoin as a reserve asset This is the second public company to turn towards BTC to protect their capital, with this bourgeoning trend sparking excitement amongst investors There is one fractal pattern that indicates further upside could be imminent in the […]

2020-10-11 01:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru