Third Bitcoin ETF to launch in Canada this week


Yet another bitcoin exchange-traded fund (ETF) is expected to list on the Toronto Stock Exchange on Tuesday.

According to an announcement from provider CI Global Asset Management, regulators have approved the final prospectus for the “CI Galaxy Bitcoin ETF.”

The ETF is expected to begin trading on the Toronto Stock Exchange (TSX) on Tuesday, subject to approval from the bourse, under the ticker “BTCX.”

BTCX will give investors exposure to bitcoin by investing directly in the cryptocurrency with holdings priced using the Bloomberg Galaxy Bitcoin Index.

The listing, if approved, would make BTCX the third bitcoin ETF in North America.

In February, similar products from Evolve Funds Group and Purpose Investment both listed on the TSX.