In less than two months, one Canadian Bitcoin ETF has raised $1.1 billion in assets under management, and two funds are also growing more AUM (management assets). Cointelegraph reported this on the 14th (local time).
In less than two months of its launch, the Purpose Bitcoin ETF, the first Bitcoin (BTC) ETF, launched in North America, and its assets in operation soared to $1.1 billion. The two bitcoin ETFs launched by Canada immediately after the pupposition also increased their AUM to $200 million during the same period, raising the net value of Canada’s Bitcoin ETFs to $1.3 billion (about 1.45 trillion won).
The Purport Bitcoin ETF was launched at the end of February, generating nearly $100 million in trading volume on the first day. The ETF surpassed more than $500 million in assets under management in the first week, as investors vigorously invested to gain access to bitcoin transactions without the need to own the underlying assets.
Regulatory acceptance and the eventual launch of the Purport ETF acted as a floodgate for the Canadian Bitcoin business, with two more ETFs launched in the weeks that followed.
Evolve Fund Group’s bitcoin ETF started operation just two days ago, and despite offering a 25% lower management fee than Pupose, it only hit $166 million on AUM, the website said. Likewise, the CI Galaxy Bitcoin ETF, which was launched just a few days later, currently has an AUM of just over $90 million, but this time its administration fee has been lowered to 0.4%, according to Canada’s Globe & Mail. Pupose took the lead.
Numerous US companies have registered their Bitcoin ETF applications with the US Securities and Exchange Commission (SEC). However, to date, no ETFs have been approved on US soil. Galaxy Digital, Skybridge Capital, and Fidelity have all applied for ETFs in recent months.
(In less than two months, one Canadian Bitcoin ETF attracted $1.1 billion in assets under management, while two more funds are also growing their AUMs.)
Credits to our source: kr.cointelegraph.com
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Author/ Translator: Jamie Kim
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