Canada has repeatedly exhibited its interest and inclination towards crypto. The country has been more accepting of Bitcoin and altcoins, unlike several other countries. The Canadian regulators giving a green signal to an array of exchange-traded funds [ETF] is substantial proof of the country’s engagement in crypto.
In a recent announcement, Canada’s CI Global Asset Management suggested that it would be the third platform to launch a Bitcoin ETF in the country.
Canada Gets Its Third Bitcoin ETF
Canada’s third Bitcoin ETF is reportedly all set to launch its third Bitcoin ETF after receiving the approval of the country’s securities regulators. CI Global Asset Management has listed the ETF on the Toronto Stock Exchange under the ticker symbol, BTCX. This offering will reportedly be made available starting from today.
The Chief Executive Officer of CI GAM’s parent company, CI Financial, Kurt MacAlpine elaborated on the same and suggested that the BTC ETF allows users to have a “secure and convenient” way of HODLing the king coin. He added,
“I believe our ETF stands out based on its highly competitive price point and CI and Galaxy’s extensive capabilities and track record in managing alternative investments and digital assets.”
Furthermore, the platform pointed out that the latest Bitcoin ETF would allow low-cost management fees, easier access to Bitcoin along with several others.
Partner and Head of Asset Management at GDAM, Steve Kurz suggested that the crypto industry was prevailing. He further suggested,
“We believe the emerging digital asset class presents compelling growth and diversification opportunities. The CI Galaxy Bitcoin ETF offers a simple and secure access point for traditional investors to gain exposure to bitcoin.”
With the price of Bitcoin soaring to new highs every day, the demand for the king coin has been on a surge. While the United States of America has been kicking Bitcoin ETFs to the curb, Canada already has three ETFs under its radar.