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First Bitcoin ETF in North America launches on TSX amid crypto price boom

By Staff  The Canadian Press

North America’s first Bitcoin exchange-traded fund began trading on the Toronto Stock Exchange Thursday.

The ETF, developed by Toronto-based Purpose Investments, was approved for trading last week by the Ontario Securities Commission.

READ MORE: Bitcoin’s rising popularity puts pressure on central banks to issue digital currency

Purpose’s ETF is the first of two Bitcoin ETFs expected to launch on the Toronto Stock Exchange this week.

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The ETFs will allow retail investors to gain access to Bitcoin investments without actually owning the asset directly.


The launch of Purpose’s ETF comes amid a surge in the prices of Bitcoin and other cryptocurrencies, with Bitcoin hitting an all-time high of around C$66,500 on Wednesday.

Regulators had previously held off on approving a Bitcoin ETF, citing the potential for market manipulation and concerns about how to store the assets securely.


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