{"id":12857,"date":"2021-11-30T16:50:18","date_gmt":"2021-11-30T16:50:18","guid":{"rendered":"http:\/\/ci0293911cf0022680"},"modified":"2021-11-30T16:50:18","modified_gmt":"2021-11-30T16:50:18","slug":"first-bitcoin-etf-to-pay-monthly-yield-launches-in-canada","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/first-bitcoin-etf-to-pay-monthly-yield-launches-in-canada","title":{"rendered":"First Bitcoin ETF To Pay Monthly Yield Launches In Canada"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><ul>\n<li>A bitcoin ETF offering monthly yields has been listed in Canada today.<\/li>\n<li>The Purpose Bitcoin Yield ETF is live on the Toronto Stock Exchange under the ticker symbol BTCY.B.<\/li>\n<li>Purpose Investments employs a derivatives-based covered call strategy to pay investors an expected eight to ten percent annual yield.<\/li>\n<\/ul>\n<p>Canadian investors can now receive a monthly bitcoin yield through a new <a href=\"https:\/\/bitcoinmagazine.com\/guides\/what-is-a-bitcoin-etf\">exchange-traded fund (ETF)<\/a> listed on the Toronto Stock Exchange (TSX), reported <a href=\"https:\/\/finance.yahoo.com\/news\/bitcoin-ethereum-etf-monthly-payouts-launch-canada-123013079.html\" target=\"_blank\" rel=\"noopener\"><em>Yahoo Finance<\/em><\/a>. The Purpose Bitcoin Yield ETF employs a derivatives-based covered call strategy to pay investors a monthly yield.<\/p>\n<p>The fund was created by Purpose Investments, the asset manager that <a href=\"https:\/\/bitcoinmagazine.com\/markets\/canadian-securities-regulators-approve-north-americas-first-bitcoin-etf\">launched<\/a> the first bitcoin exchange-traded fund (ETF) in North America. The pioneering product launched in February <a href=\"https:\/\/bitcoinmagazine.com\/markets\/first-ever-north-american-bitcoin-etf-breaks-records-in-opening-week\">broke records<\/a> in its opening week after trading $80 million worth of shares within the first hour and $200 million on its first day.<\/p>\n<p>The firm\u2019s new bitcoin yield offering began trading today on the TSX under the ticker symbol BTCY.B with a management fee of 1.10%.<\/p>\n<p>Purpose Investments said it couldn\u2019t guarantee the yield paid out per month because of volatility, but it expects an annual yield of between eight and ten percent, per the report. The yield is classified as income in registered accounts.<\/p>\n<p>When asked to what kind of investor <a href=\"https:\/\/www.purposeinvest.com\/funds\/purpose-bitcoin-yield-etf\" target=\"_blank\" rel=\"noopener\">the fund<\/a> would appeal, chief operating officer and head of product at Purpose Investments, Vlad Tasevski, told <em>Yahoo Finance<\/em> that investors should consider the ETF \u201cif they want to earn yield while they hold them\u201d as it allows the generation of \u201cadditional short-term income on an asset they believe has long-term potential.\u201d<\/p>\n<p>\u201cGiven the connection between the volatility of the underlying asset and premiums, covered call strategies on cryptocurrencies offer unique exposure to a unique asset class, providing investors a high yield without sacrificing significant price participation,\u201d Tasevski added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Purpose Bitcoin Yield ETF employs a derivatives-based covered call strategy to pay monthly yield to investors.<\/p>\n","protected":false},"author":2572,"featured_media":10382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[212,1528,1410],"class_list":["post-12857","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-bitcoin-etf","tag-canada","tag-yield"],"author_data":{"id":2572,"name":"Namcios","nicename":"namcios","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/pfp-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/blockchain-association-of-canada-a-new-vision-beyond-bitcoin.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/12857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2572"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=12857"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/12857\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/10382"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=12857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=12857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=12857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}