When it comes to adopting Bitcoin (BTC) in one of the most authentic and profitable manners, Canada has knocked it completely out of the park. It was just recently when Canada started considering the go for launching several ETFs for Bitcoin (BTC) on the Toronto Stock Exchanges.
Following the reports, it has been revealed that Canada has approved two Exchange Traded Funds (ETFs) for Bitcoin (BTC). Evolve has reportedly become the second company to have received approval from the Canadian Government/Regulators for the Bitcoin (BTC) ETFs.
It has been confirmed that the ETF approved by the Canadian regulators for Evolve Funds Group Inc. has already been launched on Thursday, February 18, 2021. According to many analysts and stock traders, the first Bitcoin (BTC) ETF launched by Canada is going to be very promising and beneficial for the country.
Most importantly, people are now saying that the first Canadian Bitcoin (BTC) ETF will also receive approval from the Securities and Exchange Commission (SEC) from the United States of America.
Now that the first Bitcoin (BTC) ETF is approved by Canada, it has become more authentic and legally safe for the US SEC to approve it.
Apart from being the first two ETFs approved in Canada, the two ETFs have also become the first of their category in the entire North American region.
Evolve has emerged as one of the top investment and innovative investment companies in Canada. The company currently has over $1.7 billion worth of Assets Under Manager (AUM). It is constantly gaining recognition and popularity in terms of ETF provisions.
According to sources, the first ETF was approved by the Ontario Securities Commission last week and the company that received the go was Purpose.
Although Purpose Bitcoin ETF was the first to receive the go from the regulators, it will reportedly be launching on the stock exchange next Thursday, February 25, 2021.
The Purpose Bitcoin ETF will also be listed on the Toronto Stock Exchange and will now be counted as the second ETF to be offered by Canada.
The Bitcoin ETF for Evolve Funds Group Inc. has also been launched through the Toronto Stock Exchange on Thursday, February 18, 2021.
Apart from being the first in Canada and North America, Evolve Bitcoin ETF will also be the first physically settled Bitcoin ETFs in the entire world.
Like most of the times, the Toronto Stock Exchange has listed the Bitcoin (BTC) ETF with two offerings. The first offering is USD unhedged units with the ticker: EBIT.U. While the other offering is the unhedged ETF units EBIT.
With the launch of the first-ever Bitcoin (BTC) ETF, investors will now be able to trade in Bitcoin (BTC) with the most regulated stock exchange in the world.