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There's a lot of on-chain analysis but has anyone analyzed one of the Canadian spot price ETFs which are almost an year old now? They seem like a potentially useful indicator of general public or market patterns
Advice please! New to bitcoin and r/Bitcoin sub and need some advice on my first investment and storage of my bitcoin. All advice is much appreciated!
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Check out BTCY.B on TSX It's a fairly new covered call BTC ETF. Was currently paying around 15% in dividend yield and follows the spot price of BTC pretty closely. Main flaws is it's a covered call not a spot ETF (so could have lower highs and higher lows of the calls were not good) Main advantage is you can reinvest the dividends into the same thing (or something else) and compound it. Or you could do the spot ETF BTCX.B as well if you want direct exposure. I wouldn't bet in GBTC as the regular investor will always be screwed over somehow, you could be holding the bag for a while on that one.
Ah shit sorry my bad, we’re not talking about the same thing. I’m talking about CI Galaxy Bitcoin ETF (BTCX.U). It’s traded on the TSX. They hold actual BTC in cold wallets. https://www.firstasset.com/solutions/overview/?fund=CI+Galaxy+Bitcoin+ETF+%28US%24+Series%29 Sorry for the confusion! I see what you’re saying about gbtc. Did some digging and I agree it’s a shit show.
I’m in BTCQ and BTCX. In case of a doomsday scenario where one of them poofs away the bitcoin, it may be good to diversify
BTCX has the lowest management fee, and all those ETFs do the same thing.
There is no definitive answer when it comes to the best bitcoin ETF for a Canadian investor. Each of the products mentioned has its own advantages and disadvantages, so it really depends on the specific needs and goals of the investor. BTCC, EBIT, and BTCX are all fairly correlated to the price of bitcoin, so they would be a good option for investors who are looking for a relatively safe and stable investment. However, CI Galaxy Bitcoin ETF and 3iQ CoinShares Bitcoin ETF both have higher exposure to USD/CAD variation, so they may be a better option for investors who are willing to take on more risk. 3iQ’s QBTC Fund is also a good option for Canadian investors, as it offers a
BTCX is an OG coin buddy nothing will happen to this coin.
I recommend buying bitcoin on [Kraken](https://www.kraken.com), [Gemini ActiveTrader](https://www.gemini.com/activetrader), [Coinbase Pro](https://pro.coinbase.com), or [Swan Bitcoin](https://www.swanbitcoin.com/). Kraken charges a low fee to buy bitcoin. Kraken has the best customer support out of every exchange I've tried. Kraken has been operating since 2013 and hasn't been hacked. Kraken charges 0.00002 BTC per bitcoin withdrawal. Kraken is also adding support for the lightning network sometime next year which will allow instant bitcoin deposits & withdrawals for extremely low fees. Use the Kraken Pro app on IOS or Android for lower fees than standard Kraken. Gemini ActiveTrader charges a low fee to buy bitcoin. Gemini has good customer support. Gemini has been operating since 2014 and hasn't been hacked. Gemeni gives every user 10 free bitcoin withdrawals per month, and then charges 0.001 BTC per bitcoin withdrawal after that. Use Gemini Active Trader for lower fees than standard Gemini. Coinbase Pro charges a low fee to buy bitcoin. Coinbase has been operating since 2012 and hasn't been hacked. Coinbase customer support is practically nonexistent. Coinbase Pro charges a very small bitcoin withdrawal fee. Use Coinbase Pro for lower fees than standard Coinbase. Swan Bitcoin charges 0.99% to buy bitcoin and accepts Canadian clients. Swan Bitcoin has been operating since March 2020 and hasn't been hacked. Bitcoin withdrawals from Swan Bitcoin are free. Swan Bitcoin has an open to setup a reoccurring buy plan so that you buy a specific dollar amount of bitcoin every day, week, or month. Once you buy some bitcoin, I recommend that you take custody of your own private keys by withdrawing your bitcoin from the exchange you bought it from. I recommend that you use a good hardware wallet like a Trezor, Coldcard, BitBox02, or Ledger to store your private keys. A hardware wallet stores your private keys and signs transactions on the device itself and your private keys never leave the hardware wallet device. This means that your computer never has access to your private keys. So you don't have to worry about losing your BTC just because your computer happens to get infected with a virus, torjan, spyware, malware, keylogger, or any other malicious software. The important thing to remember when using a hardware wallet is to keep your seed phrase safe and do not lose it. You don't have to worry about losing or breaking your hardware wallet device because you can always use your seed words to restore your wallet on another hardware wallet device. You can even restore it using a software wallet, but I don't recommend doing that. I would much rather own bitcoin and have custody of my private keys rather than own shares of a bitcoin ETF like BTCX
Yeah BTCX will always be an OG coin no doubt about it buddy.
Canada has several spot etfs for eth and btc. ETHX.B and BTCX.B on the Toronto Stock exchange have the lowest mer. Not sure how foreigners can invest but you are better off buying the crypto if there is no tax advantage to holding these etfs
BTCX is a spot ETF that holds cold-storage bitcoin, fully insured, and eligible for TFSAs and RRSPs (the Canadian tax-advantaged, registered accounts). It's literally the best possible use of a TFSA or RRSP.
BTCX.B is a spot ETF, not futures.
Hey everyone, I was screwing around with that random screenshot website https//:prnt.sc/ you put 7 random numbers/letters behind the slash to get a random screenshot from somewhere on the internet. Anyway after about an hour I got a screenshot with a BTCX.one account username and password. I thought it was fake but I logged in and the account has over 27,000 BTC and 423,000 ETH. I tried to email the email address associated with the account but it didn’t go through. Not too sure what to do right now 🤷♂️
Speak for yourself, I have shares of BTCX.
Take a look at BTCX.B Canadian ETF backed by bitcoin, not like the phony US one lol
Yes, thanks. I was looking for this comment. There is also BTCX in Canadian market, and ABTC in some European markets.
ETHX.B and BTCX.B are the Galaxy ETFs for those underlying assets and qualify to be held in a TFSA
any other canadians slightly amused by how stoked americans are about getting a bitcoin etf – that's not actually backed by bitcoin lol meanwhile, ive been stacking BTCX.B all summer
Can’t American’s invest in Galaxy Digital’s BTC ETF? BTCX.B ($CAD) BTCX.U ($US)
The ETFs I know about (Canadian ones, I am Canadian) hold actual bitcoin, see for example: https://www.purposeinvest.com/funds/purpose-bitcoin-etf It is not "paper" bitcoin, they back their shares with bitcoin. The ticker for this is BTCC (BTCX is another one), if you want to compare how well they track. It's basically perfectly correlated.
That’s the Canadian ETF. All the Canadian Bitcoin ETFs such as BTCC, BTCX, etc are fully physically-backed….
If you are talking about US IRAs, you can already buy the Canadian crypto ETFs such as BTCC,BTCX,ETHX etc which are physically-backed not futures-based. Note: They are not suitable for taxable accounts though.
Has anyone else bought the BTCX etf, and how’s it going?
I wish I had the option of a bitcoin ETF when I first started. Depending on how long you hold, that capital gains tax avoided could be quite a chunk saved. CI Galaxy Bitcoin ETF (BTCX) has a pretty reasonable management fee 0.40%.
Yes, we have at least 4 bitcoin ones in Canada, I think there's one that's 2/3 BTC and 1/3 some other coin now. If we can get them in our little country then the US should have even more and with even lower fees (our lowest is BTCX which is 0.40%).
The ETFs in Canada hold the underlying asset: BTCC / BTCX. But I think you're probably right.
Buy Canadian listed ETFs? BTCX has a MER of 0.4% annually.
Of course not but we can hold the ETFs in our tax free savings account or get tax breaks in our retirement savings plan. Which is already a 30% more in income. ETHX.B BTCX.B have a set ratio of coin per share.
This has an MER fee of 0.75% which is almost twice as high as the fee of existing ETFs ETHX and BTCX by galaxy which have a 0.40% fee.
I was debating buying this today but I already have $BTCX and $ETHX so not sure if I should
I think it’s great I can do both BTCX and ETHX in my TFSA meaning tax free crypto gains 😊
Can confirm, I'm a Canadian and hold both BTCX and ETHX via my brokerage :) In fact, I even hold them in tax sheltered accounts!
>BTCX You are right not much difference between BTCC or BTCX.B other than Mgmt Fee BTCC = $1.3 Billion at 1% Mgmt Fee VS BTCX.B = $365 Million at 0.40% Mgmt Fee
I dunno why people keep mentioning BTCC and ETHH when BTCX and ETHX both have lower fees, 0.40% vs a high 1%.
The advantage in holding BTC and ETH ETF is the ability to hold in a tax sheltered account. ETHX.B and BTCX.B by CI Galaxy are available in Canada and are backed directly by the crypto. There is another company that have approved ETFs in Canada.
I mean, yes and no. It's pretty simple if you're used to investing already (which to be fair a large portion of the population doesn't invest, and of those that do invest many don't manage their own investments). Currently you just have to send money to an exchange (similarly to how you would deposit money into an investment account) and then purchase your assets. Some of the defi swaps are more complicated but a basic centralized exchange isn't that hard. Besides investing directly and holding your own coins/tokens, there are currently ETF's for BTC and ETH. Specifically in Canada there are ETF's, but there are also hedged versions of Canadian ETF's denominated in USD if that's of concern. I hold ETHX.B and BTCX.B in CAD in my TFSA as well as holding coins on exchanges and cold wallets. None were that complicated. The most confusing and stressful part currently is if you are transferring coins/tokens between wallets (instead of just doing trades on an exchange) and I think that is even becoming easier with whitelisted wallets and using domain names or phone numbers as a wallet. We're getting there though. People who have grown up with technology do not find navigating crypto THAT hard
ETHX and BTCX. A good opportunity to have tax free exposure to crypto worth these ETFs
You can buy it as a stock if your country has bitcoin ETFs or allows you to purchase bitcoin ETFs like BTCX.to or BTCC in Canada (we also have reason to do this because it can be put into a tax free savings account like with other stocks). Unless your brokerage goes down, you won't have this issue then. I mean you don't really own the bitcoin but I'd argue basically the same if you purchase from coinbase.
You can also get a free stock trading app, and buy some ETFs like BTCX.u or even some of the mining companies.
You welcome. 😀 I also like $BTCX and $ETHX if you like a pure play These are all Canadian though. There is US equivalents. Like Similar to HBLK is BLOK Like Amplify Transformational Data Sharing ETF (BLOK) Performance over One-Year: 112.9% Expense Ratio: 0.71% Annual Dividend Yield: 1.30% Three-Month Average Daily Volume: 448,406 Assets Under Management: $1.2 billion Inception Date: Jan. 16, 2018 There is no real ETFs in US yet so the closest is the grayscale bitcoin trust
I like HBLK Diversity: HBLK holds companies that are exposed, directly or indirectly, to the development and implementation of blockchain and distributed ledger technologies. This means it’s not JUST bitcoin like ($BTCX for example) it holds companies like established Technology Firms, Crypto Miners, Payment Providers, Cloud services. Here is a list of all holdings: https://imgur.com/a/q2H6mH9 Some of the BEST of Crypto - $RIOT, $MARA,$HIVE, $HUT, $GLXY, $BITF Well Established Tech/Cloud/Payment - Visa, IBM, MasterCard, Oracle, Square, Docusign, Intel. Some examples of how someone of these companies are connected to blockchain technologies https://imgur.com/a/mizzF4C Hedge: So should bitcoin say crash (not that it will) but having all these great well established companies is a nice hedge. It makes it in my opinion the safest way to invest in cryptocurrency. Returns: Finally the returns have been disgusting 345% 1 year rate of return as of March 31, 2021. https://imgur.com/a/UDQjYaz It’s my favorite thematic ETF!! ❤️
Thanks for the tip on the fees with BTCX.B!
I just sold my BTCC.B for BTCX.B, it’s cheaper management fees. I think ETFs are nice because the gains are tax sheltered. But I also like having actual crypto because of staking. So basically: why not both!
Wrong sub bro. Anyways, oil stocks are old news get yourself more BTCX/BTCC ETHX/ETHC instead.
My god why the hell invest in gbtc with a 2% fee when you could invest in BTCX instead for a 0.4% fee. I just don’t understand..
TSX:BTCC *expense ratio of 1 percent.* TSX:ETHH *The management fee is 0.75 percent.* TSX:EBIT *The fund has a management fee of 0.75 percent.* TSX:ETHR *has a management fee of 0.75 percent* TSX:BTCX.B *0.4 percent* TSX:ETHX.U *0.4 percent* these fees are gross
Come to Canada and see our selection: QETH, QBTC, BTCQ, ETHQ, BTCC, BTCX
BTCX.B and ETHX.B, both on TSX. They are the lowest in term of MER and follow quite well the market pricing of each.
We've had multiple Bitcoin ETFs in Canada for a few months now, so wouldn't be the first. They released around BTC's all time high which was a terrible timing decision. Tickers on the TSX are BTCC, BTCC-B, BTCC-U, BTCX-B, BTCX-U, EBIT, and EBIT-U. The advantage here is that these ETFs allow you to hold BTC in your tax free accounts (no tax on gains). There's also Ethereum ETFs now, a little more recent than the BTC ones. Tickers are ETHX.B, ETHX.U, ETHH, ETHH.B, ETHH.U, ETHR, and ETHR.U.
I held QETH and QBTC up until they opened a new ETF for both: now I hold BTCQ and ETHQ. The alternatives ETFs that I’m aware of are: BTCC, BTCX, ETHC
Currently holding BTCQ and ETHQ. Thoughts on BTCC and BTCX?
Unless you are buying it within an IRA, you should be aware of punitive PFIC taxation on all non-US-domiciled ETFs such as BTCC, BTCX, etc
ETF's are definitely a threat to him. I lose my Vanguard and BTCX.B ETF's. That would get him 0$. I also predict that younger generations unlike boomers will start investing by themselves and there will be less demand for a "middle-man service" taking a %. People who hate finances will still use those services but more and more will invest by themselves.
BTCX.B has the lowest management fees. I spread across all of them just in case one of them somehow loses their crypto holdings
see if his broker supports BTCX it doesn't track the S&P price of crypto, but it does a good job of following coinbase's
You can also check BTCX and ETHX lowest management fees 0.40% and ETHX is 0% until June 15. CI Global Asset is the provider.
(People are probably going to hate me for this but) You can buy a BTC ETF and hold it in a tax sheltered account. Canadian exchanges have three ETFs approved: $BTCC $BTCX $EBIT
tldr; CI Global Asset Management has announced the launch of the CI Bitcoin Fund. The fund will be offered to investors through an institutional-quality fund platform and investments placed within the CI Galaxy Bitcoin ETF, which trades on the Toronto Stock Exchange under the ticker BTCX. Investors will only have to pay an industry-low management fee of 0.40%. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I switched from BTCC to BTCX because of the lower MER. However, I messaged them today to ask who their custodian is... Will keep you posted.
Canadian here. I have some self-custody BTC but wanted to increase my BTC exposure. The vast majority of my money is tied up in my TFSA (Tax-Free Savings Account) and RRSP (Registered Retirement Savings Plan). I don't really wanna mess with my contribution room by withdrawing or pay capital gains if I ever sell, so I've been buying the BTCX ETF within my TFSA. Galaxy Digital is the subadvisor and Gemini is the cold storage custodian. I understood them to be reputable, institutional-grade names in the BTC space. Am I a fool? Won't a lot of this incoming institutional investment have similar arrangements? Coinbase's fees for Canadians have gone insane (4%) which is another thing that pushed me in this direction :-(
Find out what the MER is for the ETF and who is the custodian. Then compare it to: BTCC BTCX EBIT
There are 3 ETFs at the moment that all appear to function the same way but have different MERs BTCC = 1% MER EBIT = 0.75% MER BTCX = 0.4% MER It will be awesome if they eventually let you withdraw directly to BTC.
Look into these stocks:. HIVE BITF HUT MARA RIOT ETHC BITK or these ETFs: HBLK BTCC BTCX EBIT
Since last summer I has been able to do transfers to my Bitstamp account from my Swedbank account. Sure they blocked me for one year if not even more until Bitstamp changed their IBAN, but that just caused me to change to Coinbase or BTCX and buy the Bitcoin slightly more expensive.
This is great news, but kind of ridiculous that Morgan Stanley is putting so many restrictions like $2 million dollars when anyone can buy GBTC via self directed brokerages, or buy the Galaxy BTCG/BTCX funds directly with no middle man.
Lowest mer. BTCX has a 0.40% mer, BTCC is 1%, EBIT is 0.75%
I’m not sure if you can buy ETF’s on the TSX. But check out EBIT, BTCC & BTCX. We have an ETH ETF in the pipeline.
BTC ETF’s exist in Canada. We have 3 I currently hold BTCX.B in my retirement account.
Just been contacted by a Juan on telegram, claiming to be able to pick the winner of this ‘BTCX Game’. Not fishy at all lol but has anyone hear of them? I can’t find anything online! How silly do they think some people are :/
tldr; A third bitcoin exchange-traded fund (ETF) is expected to list on the Toronto Stock Exchange (TSX) on Tuesday. The final prospectus for the "CI Galaxy Bitcoin ETF" has been approved by regulators. The listing, if approved, would make BTCX the third bitcoin ETF in North America. It will give investors exposure to bitcoin by investing directly in the cryptocurrency. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
> BTCX, will begin trading on the Toronto Stock Exchange on March 9 ... >On launch, it attracted interest from institutions, posting high trade volumes. This report coming to you from Time Machine.
tldr; A third Bitcoin exchange traded fund (ETF) has been approved by Canadian securities regulators. The CI Galaxy Bitcoin ETF will launch tomorrow, March 9, under the symbol BTCX on the Toronto Stock Exchange. It will join the Purpose Bitcoin ETF and Evolve Bitcoin ETF, both of which launched just last month. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; A subsidiary of a firm overseeing more than $230 billion in assets has filed a preliminary prospectus for a third Canadian bitcoin exchange-traded fund. The so-called CI Galaxy Bitcoin ETF (BTCX) would be managed by CI Global Asset Management and advised by merchant bank Galaxy Digital. BTCX will invest directly in bitcoin. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*