Cryptocurrencies have gained immense popularity globally, and Canada has been actively participating in this digital revolution. The rise of Canadian crypto exchange-traded funds (ETFs) has provided investors with alternative ways to gain exposure to the booming cryptocurrency market. In this article, we will delve into 13 Canadian crypto ETFs that are currently making waves in 2024.
1. **Purpose Bitcoin ETF (BTCC.TO)**: Purpose Bitcoin ETF is the first-ever approved Bitcoin ETF in North America. This fund offers investors an opportunity to invest in Bitcoin without directly holding the cryptocurrency.
2. **Evolv Bitcoin ETF (EBIT.TO)**: Evolve Bitcoin ETF is another popular choice for investors looking to gain exposure to Bitcoin. This fund aims to provide price returns similar to the performance of Bitcoin.
3. **BetaPro Bitcoin ETF (HBIT.TO)**: BetaPro Bitcoin ETF is designed to provide daily investment results that correspond to twice (200%) the daily performance of Bitcoin.
4. **CI Galaxy Bitcoin ETF (BTCX.TO)**: CI Galaxy Bitcoin ETF is an actively managed fund that invests in Bitcoin and other digital assets related companies. This ETF offers diversified exposure to the crypto market.
5. **Accelerate Bitcoin ETF (ABTC.TO)**: Accelerate Bitcoin ETF is known for its innovative approach to investing in Bitcoin. This fund aims to provide investors with enhanced returns compared to traditional Bitcoin investments.
6. **3iQ The Bitcoin Fund (QBTC.TO)**: 3iQ The Bitcoin Fund is a closed-end fund that invests in Bitcoin. This fund provides investors with a convenient way to gain exposure to Bitcoin through traditional brokerage accounts.
7. **Arxnovum Bitcoin ETF (ARXN.TO)**: Arxnovum Bitcoin ETF is a newly introduced ETF that focuses on Bitcoin investments. This fund is designed to provide long-term capital growth through investments in Bitcoin and related assets.
8. **CoinShares Bitcoin ETF (BITC.TO)**: CoinShares Bitcoin ETF offers exposure to Bitcoin by investing in a combination of physical Bitcoin and Bitcoin derivatives. This fund provides investors with a flexible way to access the cryptocurrency market.
9. **Byte Bitcoin ETF (BTCC.B.TO)**: Byte Bitcoin ETF is a unique ETF that invests in Bitcoin and other digital assets. This fund aims to generate long-term capital growth by investing in a diversified portfolio of cryptocurrencies.
10. **First Block Digital Bitcoin Trust (BITC.U.TO)**: First Block Digital Bitcoin Trust is a closed-end Bitcoin fund that aims to provide investors with exposure to the price of Bitcoin. This fund is traded on the Toronto Stock Exchange.
11. **Harvest Bitcoin ETF (HBIT.U.TO)**: Harvest Bitcoin ETF is an actively managed ETF that invests in Bitcoin. This fund aims to provide investors with capital appreciation by investing in Bitcoin-related securities.
12. **Ninepoint Bitcoin ETF (BITC.U.TO)**: Ninepoint Bitcoin ETF provides investors with exposure to Bitcoin by investing in physical Bitcoin. This fund is designed to track the price of Bitcoin and provide investors with an efficient way to invest in the cryptocurrency market.
13. **Coincapital Bitcoin Trust (CAD.TO)**: Coincapital Bitcoin Trust is a closed-end fund that invests in Bitcoin. This fund provides investors with direct exposure to Bitcoin price movements without the need for a digital wallet.
In conclusion, Canadian crypto ETFs have emerged as a popular investment option for those looking to gain exposure to the dynamic cryptocurrency market. With a variety of ETFs available, investors can choose funds that align with their investment goals and risk tolerance. As the crypto industry continues to evolve, Canadian crypto ETFs are expected to play a significant role in the investment landscape.