By Kuldip K. Ambastha
In the last few years, cryptocurrencies (and their associated blockchain technology usages) have attracted the attention of many investors.
During the past trading week, the first-ever North American exchange-traded fund (ETF) for Bitcoin was launched. Purpose Bitcoin ETF (BTCC-B.TO) saw strong interest from investors and heavy daily trading volumes. Though cryptocurrencies are highly volatile, Bitcoin and other cryptocurrencies have been attracting mainstream attention recently.
Purpose Bitcoin ETF was launched by Purpose Investments Inc. of Toronto, Ontario, Canada. The ETF has a 1% management fee, and has an annual distribution frequency. Given the ease of investing in an ETF (vs. directly investing in cryptocurrencies), more cryptocurrency ETFs may emerge in the future within North America.
Keywords – Purpose Bitcoin ETF, BTCC-B.TO, Bitcoin, cryptocurrencies, cryptocurrency, blockchain, technology, North America, North American, exchange-traded fund, ETF, Purpose Investments Inc., Toronto, Ontario, Canada, Canadian.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in BTCC-B.TO.
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