The Bitcoin ETF Nears $1 Billion

bitcoin etf near 1 billion jan 2021

The Bitcoin Exchange Traded Fund (ETF) listed on Toronto’s stock exchange has crossed one billion Canadian dollars and is close to crossing that milestone in USD too with it currently having $813 million in bitcoin under management. The fund launched just this summer with $10 million. Since then it has grown considerably, now handling that $10 million in just a day’s trading volumes. “Every single day, we’re getting calls from the biggest institutions in Canada on how they can get bitcoin in their portfolio,” says Fred Pye, president and CEO at 3iQ, manager of the bitcoin fund (QBTC.U). They launched an ethereum ETF as well in a world first this December, raising $75 million. In just weeks, this has now risen to $162 million in assets under management, indicating considerable demand for bitcoin and eth. These two remain the world’s only crypto ETFs as far as we are aware, although…

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