What is BTC ETF?
ETF stands for Exchange Traded Fund, while BTC ETF is an exchange-traded fund that specifically tracks the price of the BTC and allows traders to purchase or sell it. It is managed by institutions that buy and hold BTC. When listed on a traditional stock exchange, users can buy those ETFs like stocks and pay a certain management fee to the fund company.
On February 13, Purpose Bitcoin ETF was listed on the Toronto Stock Exchange (TSX), generating a trading volume of $80 million in the first hour and reaching nearly $100 million on the first day. As of February 24, its scale has reached $624 million.
On February 19, Evolve Funds ETF got listed on TSX and as of February 24, the scale of the fund has reached $38.245 million.
In contrast, the ETF funds similar to BTC Trust set up by the Grayscale Investment Trust have already been listed early in 2013 and have achieved a return of 33771.43%. The BTC trust fund is not a real BTC ETF — the price is generally higher than the BTC spot price and it has a higher management fee, which is a substitute for BTC ETF before it emerged.
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Topic: Global BTC ETF and BTC Trust list (Read 68 times)
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