CI Global Asset Management’s CI Galaxy Bitcoin exchange-traded fund began trading under the ticker BTCX, the third such ETF to launch on the Toronto Stock Exchange in less than a month. (The Logic)
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CI Global Asset Management’s CI Galaxy Bitcoin exchange-traded fund began trading under the ticker BTCX, the third such ETF to launch on the Toronto Stock Exchange in less than a month. (The Logic)
Talking point: Purpose Investments, which was first to market with its Bitcoin ETF on Feb. 18, continues to beat its competitors in trading volume. Purpose saw huge success in its first two days of trading, but volume has since dropped off. Its Canadian-dollar Bitcoin ETF saw nearly 1.4 million shares change hands by the end of the trading day Tuesday, compared to about 220,000 for the newly launched Canadian-dollar CI Galaxy Bitcoin ETF and 104,444 for Evolve’s Canadian-dollar ticker, according to Yahoo Finance. Evolve undercut rival Purpose’s fees shortly after launching, but CI’s Bitcoin ETF management fee of 0.4 per cent is now lower than both rivals. After a late February slump, Bitcoin’s price is creeping back up toward its February all-time high of around US$58,000, which may rekindle investor interest.
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