{"id":36794,"date":"2021-02-21T12:23:00","date_gmt":"2021-02-21T10:23:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36794"},"modified":"2025-08-29T08:06:14","modified_gmt":"2025-08-29T05:06:14","slug":"first-bitcoin-etf-in-north-america-attracts-421m-in-two-days","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/first-bitcoin-etf-in-north-america-attracts-421m-in-two-days\/","title":{"rendered":"First Bitcoin ETF in North America attracts $421m in two days"},"content":{"rendered":"<p>The bitcoin-based exchange-traded fund (ETF) managed by Canadian company Purpose Investments drew $421 million in the first two days after launch, according to Bloomberg Intelligence analyst Eric Balchunas.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">STUNNING: The Canada Bitcoin ETF <a href=\"https:\/\/twitter.com\/search?q=%24BTCC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTCC<\/a> already has collected $421m in assets first two days (crushing our estimate). Proportionally speaking it is the equiv of a US ETF taking $8b in first two days. If it were to keep up this pace it will be the biggest ETF in Canada in 20 days. <a href=\"https:\/\/t.co\/ESIMIiy7qy\">pic.twitter.com\/ESIMIiy7qy<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1363116698891677697?ref_src=twsrc%5Etfw\">February 20, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The expert noted that for the U.S. market the figure is equivalent to about $8 billion.<\/p>\n<p>If the Purpose Bitcoin ETF maintains the pace, it will become the largest ETF in Canada within 20 days, Balchunas added.<\/p>\n<p>The regulator <a href=\"https:\/\/u1f987.com\/en\/news\/canada-registers-bitcoin-etf-ahead-of-the-united-states\">approved the company&#8217;s application on February 11, 2021<\/a>. The fund became the first bitcoin ETF registered in North America. Trading of its shares under the ticker BTCC on the Toronto Stock Exchange (TSX) began on Thursday, February 18.<\/p>\n<div id=\"attachment_125507\" style=\"width: 920px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-125507\" class=\"wp-image-125507 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCC-B.TO-10.55-0.46-4.56-Purpose-Bitcoin-ETF-Yahoo-Finance-Google-Chrome.jpg\" alt=\"First Bitcoin ETF in North America attracted $421m in two days\" width=\"910\" height=\"464\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCC-B.TO-10.55-0.46-4.56-Purpose-Bitcoin-ETF-Yahoo-Finance-Google-Chrome.jpg 910w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCC-B.TO-10.55-0.46-4.56-Purpose-Bitcoin-ETF-Yahoo-Finance-Google-Chrome-300x153.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCC-B.TO-10.55-0.46-4.56-Purpose-Bitcoin-ETF-Yahoo-Finance-Google-Chrome-768x392.jpg 768w\" sizes=\"auto, (max-width: 910px) 100vw, 910px\" \/><\/p>\n<p id=\"caption-attachment-125507\" class=\"wp-caption-text\">Data: Yahoo! Finance.<\/p>\n<\/div>\n<p>Regulatory approval for launching a similar product <a href=\"https:\/\/u1f987.com\/en\/news\/ontario-approves-second-bitcoin-etf\">was granted to another Canadian company<\/a> \u2014 Evolve Funds Group. Trading of the fund&#8217;s shares on the TSX began February 19, and its volume was 26 times smaller than that of the Purpose Bitcoin ETF, the analyst noted.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">Crazy, the Purpose Bitcoin ETF (BTCC) is trading 26x more than Evolve Bitcoin ETF (EBIT), which launched only 24hrs later. That\u2019s how big a deal being first-to-market is and why issuers are spending millions in US to get first approval. Really is like the Cannonball Run.<\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1362797846722994176?ref_src=twsrc%5Etfw\">February 19, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Here is how important it is to be a pioneer in the market and why issuers are spending millions in the US to get approval first. It really is like the <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%9F%D1%83%D1%88%D0%B5%D1%87%D0%BD%D0%BE%D0%B5_%D1%8F%D0%B4%D1%80%D0%BE_(%D0%B3%D0%BE%D0%BD%D0%BA%D0%B0)\" target=\"_blank\" rel=\"noopener\">Cannonball Run<\/a>, the expert noted.<\/p>\n<\/blockquote>\n<p>On the US SEC, applications to register bitcoin ETFs have been submitted by <a href=\"https:\/\/u1f987.com\/en\/news\/bitwise-files-new-sec-application-for-bitwise-crypto-innovators-etf\">Bitwise<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/vaneck-submits-new-filing-to-launch-bitcoin-etf\">VanEck<\/a>, and <a href=\"https:\/\/u1f987.com\/en\/news\/sec-receives-new-bitcoin-etf-registration-filing\">Valkyrie Digital Assets<\/a>. At the time of writing, the regulator had not approved any of them.<\/p>\n<p>Earlier, SEC commissioner Hester Peirce said that US capital markets <a href=\"https:\/\/u1f987.com\/en\/news\/sec-commissioner-hester-peirce-market-ready-for-bitcoin-etp-launch\">are ready for the launch<\/a> of exchange-traded products based on the first cryptocurrency.<\/p>\n<p>In October, trading of shares of the 3iQ index Bitcoin fund began on the TSX.<\/p>\n<p>Follow ForkLog news on Twitter!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bitcoin-based exchange-traded fund (ETF) managed by Canadian company Purpose Investments drew $421 million in the first two days after launch, according to Bloomberg Intelligence analyst Eric Balchunas.<\/p>\n","protected":false},"author":1,"featured_media":36795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[771,1211],"class_list":["post-36794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-canada","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"41","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36794"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36794\/revisions"}],"predecessor-version":[{"id":36796,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36794\/revisions\/36796"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36795"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}