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If you can trade on the TSX, you have had access to BTC and ETH etfs for years
Buy secure crypto in an ETF with 3IQ (TSX:BTCQ,ETHQ)
TSX-listed crypto company Voyager Digital warns of US$655-million loan default, shares plummet 53 per cent
How do BTC ETFs weather a market/currency crash accompanied by a crypto bull run?
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P2E Fantasy Sports Game TradeStars Starts Staking Native Token TSX - Press Release - Crypto News
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First off this is financial advice and I am the CEO of Bitcoin so that means I am a qualified advisor. TFSA... not bad to get out of paying taxes when you retire. But as a fellow Canadian, I would suggest to you that you won't be retiring for a while, and there could be a recession coming up. That money will potentially be degraded soon. Lucky for you, you may be able to buy a Bitcoin ETF (not currently available in US). So you can transfer your filthy fiat into Bitcoin as we speak, with ZERO taxable events. Here are some ETFs Purpose Bitcoin ETF (TSX:BTCC) 2021-02-25 First Bitcoin ETF in Canada. Holds actual Bitcoin in cold storage. 3iQ CoinShares Bitcoin ETF (TSX:BTCQ) 2021-03-21 Tracks the U.S. dollar price of Bitcoin via actual Bitcoin in cold storage. CI Galaxy Bitcoin ETF (TSX:BTCX.B) 2001-03-05 Tracks the U.S. dollar price of Bitcoin via actual Bitcoin in cold storage.
But doesn't Canada already have BTC ETFs? This is what I found... ​ Purpose Bitcoin ETF (TSX:BTCC) First Bitcoin ETF in Canada. Holds actual Bitcoin in cold storage. 3iQ CoinShares Bitcoin ETF (TSX:BTCQ) Tracks the U.S. dollar price of Bitcoin via actual Bitcoin in cold storage. CI Galaxy Bitcoin ETF (TSX:BTCX.B) Tracks the U.S. dollar price of Bitcoin via actual Bitcoin in cold storage.
There already are spot BTC etfs, no? Purpose Investments have a couple in Canada and I believe there's several competitors as well. Why don't people that want BTC Spot ETF just buy on the TSX?
They buy bitcoin as people buy the ETF - pretty much what they are trying to approve right now for the states, it was approved on the TSX a year or so ago. https://www.purposeinvest.com/funds/purpose-bitcoin-etf
It's not easy. For example, BTCC is not offered on the U.S. stock market. You have to go through a broker that is a member of the TSX. And the accounts have to be enabled for international trade. So, in short, no. It's not easy to invest in Canadian ETFs for Americans. d then, for institutional money, there are probably additional legal/privacy/compliance reasons why they might prefer to invest in US-based. So, in short, no. It's not easy to invest in Canadian ETFs for Americans. That's why BlackRock and other US-based ones are a big deal if you're in the US.
Just look at the daily volume of Nasdaq and compare that to crypto. They had $234.4B of volume just with Nasdaq, on Friday. NYSE averages roughly $20B/day. TSX (in Canada) was about $12.5B. That's 3 North American exchanges and that's 12x the total daily trading of the entire cryptocurrency matrix (which was $30B on Friday).
Evolve Bitcoin ETF. Ticker is EBIT listed on the TSX.
2005 Acura TSX, still just under 100K miles
Crypto ETF’s are a little less appealing for a reason you didn’t mention: many of them can only be bought and sold when the NYSE/TSX/etc. markets are open. If you buy a crypto ETF on Friday afternoon (feeling good), but by Friday night news is out that a government is cracking down/a large crypto company is going bankrupt/etc., and a person wouldn’t be able to minimize losses even if they were willing to sell at a price someone was willing to buy.
Why would you ask if I have a business? I have had one since 1985. I invest part of my business money in Purpose Bitcoin ETF (TSX:BTCC). It's a way corporations in Canada can have Bitcoin exposure. I personally bought Bitcoin a few years ago. We should be welcoming here to people asking questions and looking for more uses for Bitcoin.
Canada has had several spot ETFs for a couple years. They have a small amount of money in them. (note : these could technically be purchase by Americans because they are simply a ticker on the TSX). Australia had spot ETFs but I think at least some of them were shut down because the demand was ultra low. If a spot ETF was the gold rush moment, then we'd know it. I do agree the US should have one but the one simple thing we have to realize is that everything that Grayscale says is biased. They are interested in an ETF to unlock the massive discount. They are interested in making money having first mover advantage.
I know they only support Eth-chain crypto, however, I was hoping that part of their web3 API would have allowed them to pull some of this lost crypto back from the abyss. I just made a mistake when making a ton of TSX that I forgot to set to ETH instead of default Cronos networks.
For people with access to the TSX , some of these mining stocks like HUT and HIVE were better performers than Bitcoin last bull run. HUT in particular is quite volatile and offers good day trading possibilities. One thing regarding HUT: They recently join with a private Bitcoin mining company in the US to stay alive. They have long held a HODL position on all of their mined Bitcoin. I think this puts them into a good position (assuming they survive the bear market) for the next bull run. However, they will be doing a reverse split after the merger which I know some people are not a fan of.
I'm degenerate. I don't think Bitcoin and Ethereum are high risk enough so instead of having an interest in an ETF for either, I buy BIGG:TSX/BBKCF:OTC. A penny stock that has a crypto exchange and blockchain investigative/analysis tool
I have a friend who's been obsessed with the SEC approving US crypto ETFs, expecting a huge pump when approved... I've tried to tell him they've been around in Canada (TSX) for awhile, so I really don't think it'll be too meaningful in and of itself when they're approved for NYSE/Nasdaq, since any American (we're both American), or really anyone, can already buy them on the Toronto exchange (TSX)... Wish it weren't the case sometimes, though, because I bought 2k shares of Voyager (TSX:VOYG) there when it was like $18, SMH!
There are Bitcoin and Eth etfs available on the TSX
I agree, but Voyager was also on the TSX (Toronto exchange), not just OTC. Granted, not NYSE/Nasdaq, but I admit being in the US I have no idea how stringent Canada is, apparently not very, because I bought 2k shares on the TSX around $18 which I expect to be worthless. But to the point, I'm not worried about my "emergency" funds I keep on CB, it's more than a year's worth of my old salary, but less than 5% of my total crypto - enough to suck to lose, but not devastate me.
The Ethereum blockchain is not listed on the Nasdaq, TSX, or the like. If you think the distributed ledger technology has merit and you want to gain exposure to it, the only way is to purchase Ether...which acts more like a commodity than an equity. Ether has utility because you need it to to perform transactions on the blockchain. As the ecosystem develops, the value of your ETH will as well. And yes, there are shitcoins, this is what happens when anyone can make a token...and it's awesome.
Galaxy has bitcoin and ethereum ETFs listed on the TSX. It would be completely insane if they weren't still holding those underlying coins. They have to follow Canadian securities regulations.
The TSX is more of a VC marketplace. The companies are all way riskier. So naturally it's way more ripe for fraud
What rules are so material different being listed in the TSX vs nasdaq etc?
Voyager traded on OTC before they failed. NetCoins is owned by Bigg Digital Assets and traded in Canada on TSX I believe and USA OTC
There are like half dozen slot ETH ETFs on the TSX. Way ahead of the US.
> Shit, it's probably bigger than torontos stock exchange. The TSX has a market cap of about $3.3 trillion, about 10x that of BTC or about 3.5x that of all cryptocurrencies combined.
At least they get to see the moon(s) now, BADUM TSX I WILL BE HERE ALL NIGHT XD
Just buy one of the 5 spot BTC ETF's trading in Canada. All of them have USD versions and you should be able to buy them on any reputable American brokerage that gives access to the TSX exchange. Here's a great article that outlines each one: https://www.savvynewcanadians.com/best-bitcoin-etfs-canada/ I'm a Canadian so I'm obviously a bit biased, but if the SEC is going to continue to have their heads stuck in the sand, try and support the jurisdictions and companies that are taking this asset class seriously and innovating.
sell covered calls and average down. hut and mara are good companies, the while crypto market was down 70% off highs in 6 months, and quite a few blue chips got rekt too. hut is also Canadian, and they're actually fixing their fucking inflation, so the TSX took a mean hit too. miners are great but have lots more to have going for/against them. if you dont have the stomach for the volatility, see yourself out.
TSX price in Canada tanked after a 100 point rate hike became apparent. Why do you think that the same thing won’t happen in the USA with the Dow and crypto market (which is more driven by US economic policy and seems to track the S&P 500 and the Nasdaq)?
so, you think it will crash but can’t bother betting against it? seems like you’re not so confident after all. btw there’s ways to short without margins/loans, as in, through an ETF (you probably don’t know what that is tho). it’s easy, there’s BITI on the TSX that lets you do just that. So basically: why would you care about bitcoin if you don’t have it or bet against it? just do your things and stop wasting your own time criticizing on investments you don’t even have skin in.
Assuming this is the reference: [https://rockstarinnercircle.com/wp-content/uploads/2021/04/Why-Every-Fixed-Income-Investor-Needs-To-Consider-Bitcoin-As-Portfolio-Insurance.pdf](https://rockstarinnercircle.com/wp-content/uploads/2021/04/Why-Every-Fixed-Income-Investor-Needs-To-Consider-Bitcoin-As-Portfolio-Insurance.pdf) He makes this statement: "when I started at RBC in 1988, it was insolvent due to bad loans (defaulted) made to Lesser Developed Countries (LDC)." The only evidence he quotes in favour of that statement is an oblique reference to his own publication about inferring quantitative default risk for fixed income assets via historical credit spreads: "I have included a copy of the FAJ article in the apendex (see page 34)." There is nothing in that paper about RBC's financial position at the time. Other references are sparse, given it was the 80s and the www didn't exist, but I did find this: [https://www.csmonitor.com/1988/1130/fbank.html](https://www.csmonitor.com/1988/1130/fbank.html) "Take the Royal Bank of Canada, the country's largest. It is still owed $6 billion by third-world countries. The company has set aside $2.3 billion to cover that debt." Looking at the oldest RBC annual report I could find online: [https://www.annualreports.com/HostedData/AnnualReportArchive/R/TSX\_RY\_2006.pdf](https://www.annualreports.com/HostedData/AnnualReportArchive/R/TSX_RY_2006.pdf) The total loan book for that year was \~$200 billion. Winding that back a few years let's say they had $150 billion on the books in 1986. Even a total loss of all those loans to LDCs in one go then would be about 4% of their portfolio. And that's for a bank that was likely bringing in around $3 billion a year in net income at the time. So, painful for sure, insolvent, not even close.
Not saying you’re wrong, but Voyager is a publicly traded company. It’s listed on TSX, and I can’t speak to consumer protection and regulation but i will say they have a better chance of paying out than others
I’m in Canada, and do both. Anyone else can as well, as it’s a TSX listed etf. I like holding the etf in my TFSA and RRSP for tax saving reasons, but you lose control of holding actual btc in cold storage.
I’m in Canada, and do both. Anyone else can as well, as it’s a TSX listed etf. I like holding the etf in my TFSA and RRSP for tax saving reasons, but you lose control of holding actual btc in cold storage.
The TSX always is good when things are closed down south
The TSX had a pretty decent day today. What’s to say things don’t remain somewhat bullish when the NYSE opens tomorrow? Even still I find it hard to believe we aren’t still on the decline. Crypto dropped hard and came back a bit but I see that as more of a bull trap. I’m not jumping the gun with the way the markets are right now. Steady DCA and chill is my game plan until we see some trend reversals.
Well it was interesting to see crypto rebound a bit leading up to today. The TSX is having a solid green day today but I’m sure we could all see it crumble back down tomorrow when the NYSE opens. Hard to say for sure but time makes fools of us all.
I am actually holding inverse-BTC (BITI on the TSX). Bought around last July. Went in with 180K, went down to 100K as BTC popped, and now I'm green again. It wasn't fun but this is feeling better.
Voyager 9%. They are a publicly listed company on the TSX.
WTF is happening with SPY and TSX?
DCA and HODL. I also currently have spot ETFs in Canada that hold BTC for me in TFSA. I also hold BTCY.B and ETHY.B on the TSX that actually have 13-15% dividend which are way better than anything an exchange pays. The stock consists of 75% BTCC which is a spot ETF and the rest is options, whatever they make on options they pay as a dividend for that month. At least with this ETF I know what they are doing with the options as it shows short and long positions in their profile. Also they are audited by lawyers and governed by the Ontario Security and Commissions so they have to be solvent with their holdings.
That isn't where the majority of US wealth lies, but that's another discussion. So is this information incorrect ? *Canadian stock markets are very accessible to U.S. markets, especially when compared to many other exchanges around the world. While direct investment on the Toronto Stock Exchange is relatively easy to accomplish, many companies also dual list on U.S. stock exchanges, making it even easier to invest in the same companies on domestic exchanges.* ***Investing in TSX-listed companies can be accomplished through most online brokerage accounts, such as TD Ameritrade or E-Trade****. Commissions may be more than domestic trades but remain reasonable compared to many traditional stockbrokers. However, investors should be sure to consult their accountants or investment professionals to learn of any tax implications.* Assuming this is correct, would you not just punch in the ticker like you would buying anything else on Toronto. They offer hedged and USD versions of their crypto ETFs as well so that isn't an issue either.
I was actually surprised there were at least 50 companies that have blockchain tech in their business plans. Those are just publicly traded companies on the TSX
Voyager is a publicly listed company on the TSX (moving to NASDAQ hopefully). It’s not some fly by night shady Asian/Western European chop shop. Your money is fine there. Now if it’s USDC you are worried about, they (Circle) are currently about to be brought public on the NASDAQ by CND (it’s a SPAC) in a 9+ Billion dollar deal.
Voyager USDC 9%. Can boost to 10.5% by owning VGX token Voyager is a PUBLICLY LISTED company on the TSX and moving soon to the Nasdaq
? Other exchanges are operating just fine. Heck we even have Crypto.com exchange, Shakepay gives me 1,000 sats per day if i shake my phone (seriously - it’s not much but it’s honest work, lol), Nexo still pays me interest on new deposits, coinmiles.io gives me ‘cashback’ rewards in sats if I activate their offers when shopping at a bunch of retailers https://www.parl.ca/DocumentViewer/en/44-1/bill/C-249/first-reading CRA has a guide on it, Canada is home to a few mining companies, there are spot ETF's on the TSX (not even the USA has those)...
NYSE and TSX are already open and in the red.
I mean it could absolutely go down more based on how markets play out on Tuesday. NYSE and TSX are both closed this Monday so we won’t know til Tuesday how things will play out.
From the abstract: The annual energy consumption of cryptocurrencies has been increasing in recent years. This paper studies the cryptocurrencies return volatility spillover and the underlying dynamics of five cryptocurrencies, namely Bitcoin, Bitcoin Cash, Ethereum, Ripple XRP and Litecoin's impact on four energy markets, namely Nifty Energy Index, S&P 500 Energy Index, S&P/TSX Canadian Energy Index and Shanghai Stock Exchange Energy Index for the period 2016–2021. We employed the Granger Causality Test and DCC MGARCH model to investigate the integration between cryptocurrencies and the energy markets. From the empirical analyses, we find that the overall time-varying correlation between cryptocurrencies and the energy markets is low and weak. This study may be helpful for taking investment decisions, academia and policymakers.
TSX has a BTC/ETH ETF. I forget the ticker, but I can look it up if you're interested.
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.
One day we will be able to use crypto to invest in stocks without paying capital gains made on cryptocurrency. No more waiting for days to deposit or withdraw or paying extra fees for instant withdraw. No more people holding your money longer than they should. It will be in the matter of seconds with little to no fees where you can switch from the NYSE to the TSX in 3 seconds
Lots of Canadian spot ETFs, you can buy on the TSX and hold in a TFSA.....BTCC was the first and is the biggest.
Nasdaq, S&P, Dow Jones, TSX all up, tech stocks up, google up 8% lol Cryptocurrency down WTF! 
Hut8 mining has been my favorite; it's on the TSX
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.
How many in the stock market are pure garbage? Most of the TSX is scam stocks and rug pulls. Eventually, it will come to an end.
The yield on my exchange shows 1.89% and on the TSX it shows 1.013%.
Bitcoin didnt move up because the TSX was closed today. I believe we will see an uptick tomorrow.
Yep, Bitcoin ETFs on the TSX: https://money.tmx.com/en/stock-list/CRYPTO\_FUNDS\_LIST
Crypto going down a bit overnight here. How much you wanna bet the NYSE and TSX will both react the same way?
tldr; Shopify (TSX:SHOP) is entering the non-fungible token (NFT) market. The company has launched a new platform that allows users to create and sell their own NFTs. NFT sales have generated billions of dollars for artists and brands this year. The average NFT sells for US$100. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Way ahead of what the shitty etfs are doing”? As I’ve said in response to one of his comments, I hold both. I’m just pointing out that the distrust in the current system is kinda unwarranted in regards to crypto etfs on the TSX. And not paying taxes could and is to many, a very contributing factor. And his reasoning only seems to point to not being the custodian of said token and general distrust in the system. I’m just saying there’s never been an issue with TSX listed crypto stocks. As I’ve mentioned, I hold both in an ETF and the crypto itself. Some untaxed income on top of my taxable are both great for me. Just my opinion. He sold at a loss to switch over because of his mistrust in the custodian. Nothing wrong with that opinion at all. Pros and cons all around.
I'm invested balls deep in GLXY on the TSX
If you can own foreign stocks just buy QBTC on the TSX (Canada) it's a spot ETF. It's works the same as owning a Canadian company in your portfolio.
Also, multiple Bitcoin and Eth ETFs, including yeild etfs that offer a dividend. Crypto etfs that offer exposure to altcoins. All eligible to be held in a tax free account on the TSX. Canada is ten steps ahead in crypto adoption.
Can you invest in the TSX? You should be able to.
You can buy TSX listed companies and ETFs from anywhere in the world, including the USA.
tldr; A Toronto-based money manager that launched the world's first bitcoin exchange-traded fund earlier this year is unveiling three new funds on the TSX that will be the first crypto assets trading on stock markets that will pay out a monthly yield. The new funds from Purpose Investments target investors looking to put their money into the volatile world of cryptocurrencies through traditional investment vehicles. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
It's an app. Similar spreads to CDC but the interface is much better. It's a publicly traded company listed on the TSX.
Can’t you invest in the Canadian one on the TSX?
Fundamental Research a new report on Voyager Digital Ltd. (TSX: VOYG / OTCQB: VYGVF / FRA: UCD2) - Surpasses 1M Active Users / Expecting Records in The Next Quarter As expected, Q1-FY2022 (ended September 2021) revenue was down 25% QoQ, amid a slowdown in global crypto trading volume due to weaker crypto prices. For comparison, Coinbase Global (NASDAQ: COIN) – operator of the largest crypto exchange in the U.S. - experienced a 39% QoQ revenue decline in the quarter. VOYG’s aggressive marketing campaigns are paying off, as funded accounts surpassed 1M this month, up 50% since June. Assets under management (AUM) hit $7B, up 54% since the end of September We note that sector risks remain high as crypto prices are likely to remain volatile. Central banks around the world are developing digital currencies, which may limit the transactional use of mainstream cryptos, such as Bitcoin. Q2 revenue will be driven by increased transaction volume, increased lending to institutions, staking initiatives, and international expansion. VOYG has received permits to operate in France; awaiting permits in Canada and other countries in Europe. Read the full report: https://www.researchfrc.com/voyager-digital-ltd-tsx-voyg-otcqb-vygvf-fra-ucd2-surpasses-1m-active-users-expecting-records-in-the-next-quarter/ \*Past performance is not indicative of future results.
TSX uses the same hours as NASDAQ & NYSE
Everyone is going public so they may as well. Side note, Voyager is publicly listed on TSX (so it's an OTC). I definitely bought some.
My wife has QBTC (ETF on the TSX) in her retirement account, it’d be awesome to hold actual BTC instead. Do I even dare dream of staking inside a retirement account? That’d be awesome. Good bye tax nightmare!
BTCQ is a spot ETF available on the TSX. If Canada has one it's only a matter of time before the US has one.
TL;DR: Bitcoin and Ethereum ETF's will be released on the TSX, and the managing company will purchase carbon offsets.
What's stopping US citizens from placing a trade on the TSX?
Honestly...I think everyone here just has their head up their ass with the "not your keys line..." that is absolutely true for online exchanges, I barely got out of Mt Gox and Quadriga so I have a bit more experience in exchanges failing than most here. But this is a TSX listed ETF, Purpose has billions in assets and manages a lot of people's money in their RRSP's, this fund is approved by the Canadian govt. It is also eligible under your TFSA...so all capital gains are **tax free**. They are the Canadian equivalent of Grayscale...but not a trust, this is a custodial ETF....American WISH they had it this good. They settle every single day and you can see their daily buy's and sell's in a csv you can download at any time. For all newbies that now ask me how to invest in Bitcoin....this is where I'm sending them...no paperwallets, no risk, no taxation...it's a no-brainer. For a 1.5% MER they don't have to worry about losing a cent to thieves or their own incompetence, and liquidity is as fast as you want to buy or sell...money back in your bank account in minutes when you want it.
Fellow TSX crypto investors, what’s your favorite BTC ETF and why? Wanna put in a buy order for tomorrow in my TFSA for more BTC exposure.
Yup that ETF is big for market value. Sounds like there may be potentially 3 more along the way too. I wonder if this will also cause a volume increase for the crypto ETFs that already exist on the TSX.
Perhaps? Keep in mind there are several ETFs on the TSX already. That aren’t futures ETFs either so they’ll have to be backed by something.
Oddly correlating to the opening of the NYSE and TSX markets.
Interesting. Hoping for news on Ethereum ETFs in the US soon as well, we have some on the TSX here in Canada already.
I like the idea of the eco-friendly ones. Accelerate has a carbon-negative Bitcoin ETF on the TSX under ticker ABTC. Interesting! https://investabtc.com/
I like the idea of the eco-friendly ones. Accelerate has a carbon-negative Bitcoin ETF on the TSX under ticker ABTC. Interesting! [https://investabtc.com/](https://investabtc.com/)
tldr; Hut 8 Mining is one of North America's largest, innovation-focused digital asset mining pioneers, supporting open and decentralized systems since 2018. Located in Alberta, Canada, Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined Bitcoin than any crypto miner or publicly traded company globally. Hut 8 was the first publicly traded miner on the TSX and the first Canadian miner to be listed on the Nasdaq Global Select Market. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Lol, we've had 3 BTC ETFs in Canada (TSX) for almost a year now. That's what I have in my TFSA (ROTH IRA equivalent)
This is very exciting albeit there are crypto backed ETFs available on the TSX and there has been for awhile. I don’t see why people would buy a BTC futures ETF. The unhedged ETH ETF is good to buy in a TFSA for example for tax free crypto gains.
TSX: Market cap: $3.1 trillion Volume: 39.7 billion shares NYSE: Market cap: $26.2 trillion Volume: 20.16 trillion shares. Yes, it has been listed on many exchanges, but this one is significant because of the numbers. I totally agree with you though. News is centered a bit too much around America.
How would the new Future ETF on the NYSE be different from Canadian BTCC ETF on the TSX. My understanding is for approximately every 6500 shares of the ETF equals the value of one bitcoin. You can buy and sell as you would with any traditional stock. However the investment firm holds bitcoin in a cold storage equal in value to the amount invested into the ETF. If bitcoin value increases, so does the value of the ETF portfolio and the share value.
weren't there already a bunch of BTC ETFs before this one (at least in Canada TSX)?? why is it such a big deal??
This is the big news; “ProShares is launching a long-awaited exchange-traded fund (ETF) on the New York Stock Exchange tied to Bitcoin futures”. These ETFs exist in other markets, I know the TSX has ETFs that follow the price of Ethereum.
You're overwhelmed because you're making something more complex than is needed. The biggest problem is the crypto market is new enough and different enough that using "classic" diversification reasons don't necessarily translate perfectly. The idea you're going to tame this market today - a new / developing / highly correlated / highly volatile market - with diversification is a journey to nowhere. We diversify in investing for a few basic reasons. 1) To control the risk of 1 thing killing your portfolio. The crypto translation here is "don't hold shit". Trade shit if you want, but don't hold shit. 2) To expose your portfolio to different return opportunities. You can benefit from this in crypto, but you also risk watering down your returns. Assuming equal weightings, if 9 coins return 10% and one returns 100% I have less money than if 4 coins return 10% and one coin returns 100%. In this case diversification cost you money. 3) To lower volatility due to assets being less correlated. Crypto is currently HIGHLY correlated across the board. You aren't mitigating this by diversifying in crypto very much unless you're buying stable coins. In which case, you are knee capping your returns by definition. What should you do? The answer is different for every person. For me I will buy and hold. 90% of what I have is 3 top 5 coins. I bet on the big horses. I will monitor it. 10% is something that can fly. It will also be monitored, but essentially it's written off and will either go boom or go bang. I won't trade because I am not willing to put the time in and I think I'll end up worse off. I may find the odd brand new shitcoin to throw lottery money at. Simple and, assuming crypto doesn't go to hell, my strategy will work. If you want to liken my investment strategy to the stock market, it's the equivalent of buying 90% of the S&P500, the MSCI world, the TSX60 and 10% of Dicky Dale's Dangerous Small cap ETF. For you? Ask yourself how long you have, how active you want to be and what you want from this. From there, develop the strategy. This is why investment advisors ask questions before they recommend investments. Diversification depends on the needs of the client.
Are US citizens not allowed to buy an ETF on the TSX?
There is one on the TSX in Canada . Same with a btc etf. Good times eh