The world’s first bitcoin ETF launched by Purpose Investments has surpassed $1bn CAD in AUM this past week. The Purpose Investments Bitcoin ETF has seen rapid success after its initial launch just one month ago and now ranks as one of the fastest growing ETFs by AUM listed on a Canadian exchange. The ETF invests directly in physically settled bitcoin allowing investors easy and efficient access to bitcoin without the associated risk of self-custody within a digital wallet.
The Purpose Investments ETF currently ranks as by far the largest bitcoin ETF by AUM. The ETF’s nearly $1 billion USD in AUM compares to EvolveETF at $85 million in AUM, and the Galaxy Bitcoin ETF at $47 million in AUM. TradeBlock acts as the underlying index provider for the Purpose Investments Bitcoin ETF. At time of writing, more than $40 billion in crypto asset financial products are benchmarked to TradeBlock’s suite of index products–more than any other index provider in the space.
The rapid price rise in bitcoin over the past year has led to a flurry of newly launched bitcoin ETFs in Canada and a rise in newly filed bitcoin ETFs in the United States. The United States SEC, which has historically been more conservative on a regulatory front than its Canadian counterparts, has yet to approve a digital asset ETF. More than 9 have recently been filed.
TradeBlock works with institutional clients to develop new multi-asset indexes and single-asset reference rates, designed to represent diversified investment opportunities across all segments of the crypto market available to professional investors. If you would like to learn more about TradeBlock’s indexes and how they can be utilized in financial product construction, reach out to firstname.lastname@example.org.