As Bitcoin continues to gain traction as a popular asset for investors, a lot of them are looking for easy, regulated ways to invest in the cryptocurrency. Exchange-Traded Funds (ETFs) for Bitcoin have gained popularity due to their easy accessibility and regulatory control. The best Bitcoin ETFs will be discussed in this article along with advice on how2invest in them and their market values under management as of October 2023.
1. Overview of Grayscale Bitcoin Trust (GBTC)
One of the most well-known Bitcoin investment alternatives is the Grayscale Bitcoin Trust, which is overseen by Grayscale Investments. It enables investors to learn about Bitcoin without taking possession of or storing it directly. With a market value under management of almost $40 billion (as of October 2023), GBTC is traded on the OTCQX market.
How2Invest
Create a brokerage account that grants access to OTC markets in order to invest in GBTC. After creating an account, look up GBTC and submit your purchase order. Remember that GBTC frequently fluctuates above the price of Bitcoin, which may have an impact on your investment.
2. Objective of the Bitcoin ETF (BTCC) Summary
The first Bitcoin ETF to receive regulatory approval in North America was the Purpose Bitcoin ETF, which is offered by Purpose Investments. This exchange-traded fund (ETF) offers Canadian investors a regulated way to purchase Bitcoin. As of October 2023, its market value under management was approximately $1 billion.
How2Invest
You’ll need a brokerage account that allows you can access the Toronto Stock Exchange (TSX) in order to invest in BTCC. Proceed with the regular ETF trading processes by searching for BTCC on your brokerage platform and placing your purchase order.
3. Bitcoin ETF (3iQ CoinShares) (BTCQ)
Synopsis
For investors in Canada, 3iQ also offers a regulated alternative in the form of the 3iQ CoinShares Bitcoin ETF. This exchange-traded fund (ETF) has a market value under management of roughly $1.5 billion (as of October 2023) and is backed by physically settled Bitcoin.
How2Invest
Just like with BTCC, to invest in BTCQ, open a brokerage account that allows access to the TSX. Look for BTCQ, put in a purchase order, and trade ETFs according to your brokerage’s usual operating protocols.
4. The Evolve Bitcoin ETF (EBIT)
It is a product of Evolve Funds Group that provides Canadian investors with an additional way to invest in Bitcoin. As of October 2023, EBIT is regulated and has a market value of approximately $200 million under control.
How2Invest
Investing in EBIT is done in the same way as investing in the previously discussed Canadian Bitcoin ETFs. Create a brokerage account, look up EBIT, and then place your buy order in accordance with the trading policies of your brokerage.
5. CI Global Asset Management-Managed CI Galaxy Bitcoin ETF (BTCX)
Overview
For Canadian investors looking to gain exposure to Bitcoin, this fund is another well-liked option. This ETF has a market value under management of around $500 million as of October 2023.
How2Invest
To invest in BTCX, search for it on the TSX, open a brokerage account, and then place your buy order.
A practical and regulated way to get exposure to this well-known cryptocurrency is through Bitcoin ETFs. Your region, the available investment opportunities, and your personal preferences may all influence the ETF you choose. Always do extensive research, take into account variables like fees and variations in premium/discount, and keep up with changes in the bitcoin market. In addition, if you have any doubts concerning the investments you have chosen, speak with a financial counsellor. As of October 2023, investor interest in Bitcoin and its popularity are reflected in the market values under management for these ETFs.
