About Purpose Investments Inc.
In December 2012, Purpose Investments Inc was founded. is an asset management company that manages assets worth close to $17 billion.Purpose provides a variety of outcome-focused products and relentlessly focuses on client-centric innovation. A branch of Purpose Financial, an independent technology-driven financial services company, Purpose Investments is run by well-known entrepreneur SomSeif. Purpose Financial officially changes its name to Purpose Unlimited to reflect its unwavering commitment to moving the industry forward.
| Founded | 2012 | Contact | info@purpose-unlimited.com Toll Free: 1.877.789.1517 Tel: 416.583.3850 |
| Founder | SOM SEIF | Headquarter | 130 Adelaide St. West, Suite 3100 Toronto, ON M5H 3P5 |
| Website | www.purposeinvest.com | Type | Privately Held |
| Click here | Click here |
What Is Purpose Bitcoin Purpose Bitcoin ETF?
If you’ve been considering investing in Bitcoin, this could be your chance to do so without having to worry about missing your private keys or getting hacked.When it comes to the client experience, the purpose of the Bitcoin ETF is straightforward and similar to that of other ETFs.
Additionally, it means that since Exchange-Traded Funds are accessible through your current brokerage accounts, you don’t need to open an account with a cryptocurrency exchange.Similar to commodity funds, as the investor you now own units of the ETF, which owns physically settled Bitcoin
On the Toronto Stock Exchange, the Purpose Bitcoin ETF is listed under Four different tickers:
BTCC-purchased with Canadian money and covered against exposure to US money.
| TICKER | BTCC | Option Available | No |
| ISIN | CA74642C1023 | Chart | Click here |
| Bloomberg | BTCC CN Equity | Expense ratio | 1.00% not exceed 1.50% |
| Currency Hedged | Yes | Leverage | No |
| Base currency | CAD | Fund structure | Open-end Fund |
BTCC.B-Also bought using Canadian dollars, but does not act as a hedge against changes in the US dollar.
| TICKER | BTCC.B | Option Available | Yes |
| ISIN | CA74642C2013 | Chart | Click here |
| Bloomberg | BTCC/B CN Equity | Expense ratio | 1.00% not exceed 1.50% |
| Currency Hedged | No | Leverage | No |
| Base currency | CAD | Fund structure | Open-end Fund |
BTCC.U-is purchased with US dollars, allowing investors to hold Bitcoin in USD.
| TICKER | BTCC.U | Option Available | No |
| ISIN | CA74642C3003 | Chart | Click here |
| Bloomberg | BTCC/U CN Equity | Expense ratio | 1.00% not exceed 1.50% |
| Currency Hedged | No | Leverage | No |
| Base currency | USD | Fund structure | Open-end Fund |
BTCC.J- Carbon Offset Non-FX hedged.
| TICKER | BTCC.J | Option Available | No |
| ISIN | CA74642C6071 | Chart | Click here |
| Bloomberg | BTCC/J CN Equity | Expense ratio | 1.00% not exceed 1.50% |
| Currency Hedged | No | Leverage | No |
| Base currency | CAD | Fund structure | Open-end Fund |
What Does Purpose Bitcoin ETF Invest In?
BTCC has a 100% stake in “physically settled” Bitcoin. This indicates that except from bitcoin, the ETF holds no other assets (cryptocurrency).
How does the ETF purchase Bitcoin?
Genesis is one of the institutional-grade liquidity providers that the ETF uses to enable investors to purchase Bitcoin at the best possible price. Because purpose investments want their transactions to be as secure as possible, etf does not acquire Bitcoin from retail cryptocurrency exchanges.
Is my bitcoin etf unit secure?
Purpose Bitcoin ETF assets are maintained in cold storage, where they are safe and away from potential hacking efforts.Gemini, the custodian, has insured its assets against theft up to $200 million.
how to calculate net asset value Purpose Bitcoin ETF?
The Tradeblock XBX Index is used to compute the ETF’s Net Asset Value.
what is a currency-hedged series?
We mitigate currency risk by purchasing a currency hedged version and hedging against USD currency. What remains? Simply use Bitcoin or Ether instead of worrying about CAD/USD currency fluctuations.
Purpose Bitcoin ETF Details.
| Issuer | Purpose Investments Inc. | prospectus | Click Here |
| VALUATION AGENT | CIBC Mellon Global Securities Services Company | SUB-CUSTODIAN | Gemini Trust Company, LLC |
| AUDITOR | Ernst & Young LLP | REGISTRAR & TRANSFER AGENT | TSX Trust Company |
| Management strategy | Passively managed | Exchange | Toronto Stock Exchange |
| Legal structure | ETF | MINIMUM INVESTMENT | NO |
| Fund Facts | Click Here | Brochure | Click Here |
| ETF Facts | Click Here | Fund Manager | Purpose Investments Inc. |
| Fund currency | CAD & USD | Jurisdiction | Canada |
| Inception/ Listing Date | February 11, 2021 | Total Expense Ratio | Not exceed 1.50% |
Pros and Cons of BTCC
Pros
1.Even if you are new to cryptocurrencies, it is simple to purchase and gain exposure to bitcoin.
2.Sold through regulated brokerage platforms, with access to Canadian Investor Protection Fund (CIPF) protection if the brokerage goes bankrupt.
3.Gains on investments held in registered investment accounts are tax-free.
4.The fund keeps bitcoin holdings in cold storage, eliminating the need to buy a hardware wallet.
5.When you have good liquidity, it is simple to sell your holdings when you want to.
Cons
1.Volatile, risky asset that is not suitable for risk-averse investors.
2.During market hours, you can purchase and sell.
3.Up to $200 million in Bitcoin assets are insured.
4.High management fees.
Naren is a finance graduate who is passionate about cryptocurrency and blockchain technology. He demonstrates his expertise in these subjects by writing for cryptoetf.in. Thanks to his finance background, he is able to write effectively about cryptocurrency.