Share this article
Second Canadian Bitcoin ETF Begins Trading on TSX Today
This is the second bitcoin ETF approved to trade in Canada.
Updated Mar 8, 2024, 4:20 p.m. Published Feb 19, 2021, 1:09 p.m.
Make us preferred on Google
The Evolve bitcoin exchange-traded fund (ETF) is trading on the Toronto Stock Exchange under the ticker “EBIT,” effective Friday.
This is the second bitcoin ETF to be have been approved by the Ontario Securities Commission (OSC) after Purpose Investment’s bitcoin ETF went live on the TSX on Thursday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Both Evolve and Purpose Investment’s bitcoin ETFs have a management fee of 1%.
The Purpose Investment’s bitcoin ETF which is trading under the ticker “BTCC” has already seen huge interest and traded $200 million shares on its first day.
Evolve said it will provide investors with exposure to the daily price movements of the U.S. dollar price of bitcoin making the most of the ETF structure and investors will directly own bitcoin on the bitcoin blockchain in a cold wallet.
Read more: Evolve Becomes Second Canadian Issuer to Win Approval for Bitcoin ETF
“Being able to offer an ETF which holds physical bitcoin is a real game-changer in Canada,” said Raj Lala, president, and CEO at Evolve. “Bitcoin has proven to be a store of value that is uncorrelated to other major asset classes – and has now emerged as an asset class itself.”
Gemini Trust company is the sub-custodian for Evolve ETFs holdings of bitcoin.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin climbs above $89,000 as U.S. dollar tumbles on President Trump's remarks
The president said he isn't concerned about the dollar's recent declines, sending the greenback plunging even lower.
What to know:
- Bitcoin rallied above $89,000 as remarks by President Trump sent the dollar to its lowest level in nearly four years.
- Gold rose to a new record above $5,200 per ounce following the president's comments.
- One analyst is seeing a bullish technical divergence which could send bitcoin back to $95,000 in short order.
Top Stories
