Cryptocurrency is quickly becoming one of the most popular investment options around the world. Canada is no different, as more and more Canadians are buying and trading in digital currencies. As such, there has been an influx of Canadian cryptocurrency exchange traded funds (ETFs) launched in recent years.
These ETFs provide investors with a convenient way to access the digital currency markets without having to directly purchase and manage the underlying assets. Instead, investors can purchase shares of the ETFs, which track the performance of the underlying digital assets, much like a mutual fund. In this way, investors can buy into different aspects of the digital currency markets with only one purchase.
Here is a list of 11 Canadian cryptocurrency ETFs available for individual investors:
1. CI Galaxy Ethereum ETF – This is the first Ethereum-centric ETF to be listed on the Canadian Stock Exchange. The fund provides exposure to Ethereum, the world’s second-largest cryptocurrency, as well as Bitcoin.
2. Purpose Bitcoin ETF – This fund offers investors exposure to Bitcoin, the leading cryptocurrency. It tracks the Bitcoin Price Index, managed by Ethereum-based exchange platform CoinTracker.
3. Evolve Bitcoin ETF – This ETF offers direct exposure to Bitcoin, and tracks the market-cap-weighted Winkdex index, managed by Winklevoss Vision.
4. First Trust Bitcoin ETF – This fund provides exposure to Bitcoin, and is managed and operated by Arxnovum Diversified Group.
5. Distributed Ledger Technologies ETF – This ETF gives investors exposure to numerous different cryptocurrencies, including Bitcoin, Ethereum, and Ripple. It tracks the Distributed Ledger Technologies Index, managed by oneZero Financial.
6. CI Galaxy Bitcoin ETF – This ETF provides exposure to Bitcoin, and is managed and operated by CI Financial Corp.
7. Horizons Blockchain Technology and Hardware ETF – This fund offers investors access to companies that specialize in the blockchain technology and hardware markets.
8. Tokenized Accessibility ETF – This ETF provides investors exposure to tokenized platforms and products, as well as companies offering blockchain-based solutions for accessibility.
9. TokenFunder Global Blockchain ETF – This ETF gives investors exposure to various tokenized assets and platforms, including cryptocurrency, blockchain, and tokenized debt instruments.
10. Amplify Blockchain Leaders ETF – This ETF offers exposure to leading blockchain and cryptocurrency companies.
11. Evolve Blockchain ETF – This ETF provides exposure to global blockchain and cryptocurrency companies, as well as companies that are research and development focused.
These 11 Canadian cryptocurrency ETFs provide investors with a convenient way to gain exposure to the digital currency markets. They offer a way to diversify your investments without having to manage the assets on your own. However, due to the volatile nature of the cryptocurrency markets, it is important to do your due diligence before investing in any ETF. Additionally, investors should be aware of the risks associated with any investment and be sure that the fund is suitable for their individual situation.