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KXLY March 2, 2021 8:54 AM Kate Ashford - Forbes Advisor Posted: Updated: March 4, 2021 6:17 AM Not only is Bitcoin the first cryptocurrency, but it’s also the best known of the more than 5,000 cryptocurrencies in existence today. Financial media eagerly covers each new dramatic high and stomach churning decline, making Bitcoin an inescapable part of the landscape. While the wild volatility might produce great headlines, it hardly makes Bitcoin the best choice for novice investors or people looking for a stable store of value. Understanding the ins and outs can be tricky—let’s...

The world’s most popular cryptocurrency has entered North America’s mainstream financial market via the Purpose Bitcoin ETF. The first exchange-traded fund in the region will track bitcoin’s price through the TradeBlock XBX Index. Canadian regulators beat their American counterparts to the punch. The high trading volume (9.65 million shares) on February 18, 2021, the market debut, indicates a favourable reception and a strong demand. A would-be investor has two options to purchase the Purpose Bitcoin ETF. If you prefer a Canadian dollar-denominated, non-currency-hedged version, buy the...

Registering new record highs almost weekly since the beginning of 2021, bitcoin appears to be ushering in a new era: mainstream adoption.

Asset managers in Canada have been rushing to launch physically settled Bitcoin exchange traded funds (ETF), aiming to capitalise on a new market opportunity, after the country became the first to approve such ETFs this month. Canada has seen a spate of regulatory applications for Bitcoin ETF issuance, sparked by the launch of the Purpose Bitcoin ETF, the world's first ETF physically settled in the cryptocurrency. The Purpose ETF had a total asset value of about C$561.3 million ($449.8 million), as of Feb. 24, its manager told Reuters, and held about 9,647 bitcoins.

Last week marked another big milestone in the ever-evolving cryptocurrency story with the introduction of a pair of bitcoin ETFs to the Toronto Stock Exchange, the first of their kind to trade on a major North American exchange. But while the approval of the funds caught some off-guard, the regulatory and logistical process of fine-tuning how a bitcoin ETF would be regulated, managed and priced was a years-long process. Benzinga spoke with Raj Lala, President and CEO, and Elliot Johnson, Chief Investment Officer at Evolve ETFs, who are the key principals responsible for shaping the Launched f...