Cryptocurrency has revolutionized the financial industry and created new opportunities for investors. Canada is no exception, with a growing number of Canadian cryptocurrency exchange-traded funds (ETFs) making their debut.
An ETF is a type of fund that owns a wide variety of assets and trades on a stock exchange. Cryptocurrency ETFs are designed to track the performance of the underlying crypto assets. This allows investors to gain exposure to the volatile world of digital currency investing without having to purchase any actual coins.
In this article, we’ll take a look at 11 Canadian cryptocurrency ETFs that have been launched in the last few years.
1. 3iQ Bitcoin Trust (QBTC.U): Launched in April 2020, the 3iQ Bitcoin Trust is currently the only regulated ETF in Canada, with the ticker QBTC.U. The fund gives investors exposure to the price movements of Bitcoin without having to purchase or store the underlying asset.
2. Evolve Bitcoin ETF (EBIT.NE): This ETF was launched in February 2021 and trades under the ticker EBIT.NE. It provides exposure to the world’s largest and most liquid digital currency, Bitcoin.
3. Purpose Bitcoin ETF (BTCC.NE): This ETF was launched in February 2021 and trades under the ticker BTCC.NE. It gives investors access to the world’s largest and most liquid digital currency, Bitcoin.
4. CI Galaxy Bitcoin ETF (BTCX.TO): First listed on the Toronto Stock Exchange in May 2021, this ETF trades under the ticker BTCX.TO. It tracks the performance of Bitcoin and gives investors access to a physically-backed ETF without having to purchase any coins.
5. Ninepoint Bitcoin Trust (BITS.TO): Launched in May 2021, this ETF is listed on the Toronto Stock Exchange and trades under the ticker BITS.TO. The fund tracks the performance of Bitcoin and provides convenient access to the digital asset without having to store any coins.
6. Ontial Bitcoin Plus ETF (MOON.TO): Launched in May 2021, this ETF trades under the ticker MOON.CTO. It provides exposure to the combined performance of Bitcoin and Ether.
7. Hashdex Nasdaq Crypto Index Fund (HASH.NE): This ETF was launched in June 2021 and is listed on the NEO Exchange. It tracks the performance of the Nasdaq Crypto Index, which is comprised of the largest and most liquid cryptocurrency assets.
8. Simplify Ethereum ETF (ETHH.NE): Launched in June 2021, this ETF is traded on the NEO Exchange under the ticker ETHH.NE. It provides exposure to the price movements of the second-largest digital asset by market cap, Ethereum.
9. ARK Next Generation Internet ETF (ARKX.NE): This ETF was launched in June 2021 and is traded on the NEO Exchange under the ticker ARKX.NE. The fund seeks to provide exposure to innovative new technologies, such as cryptocurrency and blockchain.
10. Evolve Cyber Security Index ETF (CYBR.NE): This ETF was launched in July 2021 and trades on the NEO Exchange under the ticker CYBR.NE. It tracks the performance of the Evolve Cyber Security Index which is comprised of companies that offer cyber security solutions.
11. The Ways Multi-Strategy Alternatives Fund (WATR.NE): Launched in July 2021, the Ways Multi-Strategy Alternatives Fund is traded on the NEO Exchange under the ticker WATR.NE. It provides exposure to a diversified portfolio of underlying assets, including cryptocurrencies, blockchain, and digital assets.
With so many options now available, investors have a wide range of Canadian cryptocurrency ETFs to choose from. Each ETF has its own unique advantages and risks, so it’s important to do your research and select the one that best fits your investment goals.