Bitcoin ETF Comparison Tool
Canadian Bitcoin ETF Comparison
Compare key features of Canadian Bitcoin ETFs to find the best fit for your investment goals. All ETFs hold physical Bitcoin and are eligible for TFSA and RRSP accounts.
| ETF | Expense Ratio | TFSA | RRSP | Launch Date | Assets Under Management |
|---|---|---|---|---|---|
| Purpose Bitcoin ETF (BTCC) | 0.70% | February 18, 2021 | $2.1B | ||
| Evolve Bitcoin ETF (EBTC) | 0.99% | February 19, 2021 | $0.8B | ||
| 3iQ Bitcoin ETF (QBTC) | 1.00% | August 1, 2022 | $0.3B | ||
| Bitwise Bitcoin ETF (BTCW) | 0.95% | October 15, 2022 | $0.2B |
Key Considerations
Regulatory Approval: All Canadian Bitcoin ETFs approved by OSC with physical Bitcoin holdings.
Eligibility: All are eligible for TFSA and RRSP accounts, providing tax advantages.
Historical Significance: Purpose was the first globally approved spot Bitcoin ETF.
Expense Ratios: Lower fees can significantly improve long-term returns.
Assets Under Management: Larger funds typically have better liquidity.
Launch Date: Older funds have more historical track record.
Before 2021, buying Bitcoin meant setting up a wallet, dealing with exchanges, managing private keys, and facing regulatory uncertainty. For most everyday investors - especially those using RRSPs or TFSAs - it was too risky, too complicated, or just not allowed. Then, on February 18, 2021, everything changed. The Bitcoin ETF launched in Canada, and it wasn’t just another product. It was the world’s first spot Bitcoin exchange-traded fund approved for retail investors.
The First Bitcoin ETF: Purpose Investments Breaks the Mold
The Ontario Securities Commission (OSC) gave the green light to Purpose Investments, a Toronto-based asset manager led by CEO Som Seif. Their fund, the Purpose Bitcoin ETF (ticker: BTCC), started trading on the Toronto Stock Exchange that same day. Two versions were available: one priced in Canadian dollars (BTCC.B) and another in U.S. dollars (BTCC.U). This wasn’t a futures contract. It wasn’t a trust or a structured note. It was a true ETF - meaning it held actual Bitcoin, not derivatives. Unlike anything else on the market at the time, this ETF let investors buy a share that directly represented ownership of Bitcoin. Every time someone bought a unit, Purpose bought more Bitcoin and stored it in secure cold storage. No middlemen. No leverage. No promises. Just Bitcoin, held in trust for investors. The regulatory win was huge. The OSC didn’t just approve it - they made sure it met all the same standards as gold or silver ETFs. That meant investor protection, transparency, and audit trails. For the first time, Canadians could hold Bitcoin inside their tax-free savings accounts and retirement plans. That alone unlocked billions in dormant capital.Market Reaction: Faster Than Any ETF in History
No one expected what happened next. Within 48 hours, the Purpose Bitcoin ETF had traded over $400 million worth of shares. By the end of its first month, it had over $1 billion in assets under management. That’s faster than any ETF ever launched - including ones backed by Apple or Tesla. TD Securities reported that Bitcoin ETFs in Canada traded nearly $1 billion in volume during their first week. They became the most actively traded ETFs in the country, beating out traditional funds tracking oil, tech, or bonds. Retail investors didn’t just show up - they rushed in. Institutions followed. By its third anniversary in February 2024, the fund held over $2 billion in Bitcoin. That made it one of the largest spot Bitcoin ETFs in the world - and still the only one that had been operating continuously since day one.Why Canada Led the World
The U.S. Securities and Exchange Commission (SEC) had been studying Bitcoin ETFs for years. In 2021, they approved the ProShares Bitcoin Strategy ETF (BITO) - but it didn’t hold Bitcoin. It held futures contracts traded on regulated exchanges like CME. That meant the fund’s price could drift from the real price of Bitcoin. It also meant investors weren’t really owning Bitcoin - they were betting on its future price. Canada didn’t wait. The OSC looked at the risks - custody, volatility, fraud - and decided they could be managed. They required Purpose to use trusted custodians, publish daily NAVs, and allow authorized participants to create and redeem shares based on Bitcoin’s real-time value. That kept premiums tight. By day three, the ETF traded within 0.2% of its net asset value. That’s precision. That’s efficiency. It wasn’t luck. It was preparation. Canadian regulators had been working with crypto firms since 2017. They understood the technology. They knew how to apply existing securities laws to digital assets. They didn’t block innovation - they shaped it.
Evolve Joins the Race - And Canada Doubles Down
Just one day after Purpose’s launch, Evolve Funds Group got approval for its own Bitcoin ETF (ticker: EBTC). Suddenly, investors had two choices. Both held physical Bitcoin. Both were eligible for RRSPs and TFSAs. Both had low fees and transparent reporting. This wasn’t competition - it was validation. Two funds, approved in back-to-back days, proved this wasn’t a fluke. It was a new asset class, recognized by regulators and embraced by markets. The market didn’t just accept it - it demanded more. By mid-2021, other Canadian firms started applying for Ethereum ETFs, Solana ETFs, even crypto mining ETFs. Canada had opened the door - and the whole industry walked through.The Ripple Effect: How Canada Changed the World
When the U.S. finally approved spot Bitcoin ETFs in January 2024, they didn’t invent anything new. They copied Canada’s model. The structure, the custody rules, the daily NAV disclosures - they were all based on what Purpose Investments had proven worked. Som Seif said it best: “We’re now globally seeing others take what we innovated and bring that to their markets.” Australia, Hong Kong, Singapore - all looked to Canada’s playbook. Even the European Union, which had offered Bitcoin ETPs for years, started rethinking their approach. Those earlier products weren’t true ETFs. They didn’t trade like stocks. They didn’t have creation/redemption mechanisms. Canada fixed that. The ripple effect went beyond finance. Banks, pension funds, and insurance companies that had refused to touch Bitcoin now had a compliant, regulated way in. Advisors could recommend it without legal risk. Tax professionals could treat it like any other ETF.
What Made It Work? The Structure
Here’s what made the Canadian Bitcoin ETF different:- Physical Bitcoin - not futures, not options, not synthetic exposure.
- Eligible for TFSAs and RRSPs - tax-advantaged accounts opened the floodgates.
- Creation and redemption mechanism - kept prices in line with Bitcoin’s real value.
- Regulatory oversight - OSC enforced disclosure, custody, and reporting rules.
- Transparent fees - expense ratios under 1%, far lower than crypto trusts.
Legacy and Impact
Today, over 20 Bitcoin ETFs exist globally. But only one was first. Only one had the courage to hold real Bitcoin when regulators were scared. Only one proved that retail investors, not just hedge funds, wanted direct access. Canada didn’t just approve a Bitcoin ETF. It changed how the world thinks about digital assets. It turned Bitcoin from a fringe speculation into a legitimate investment - one you can hold in your retirement account, track on your brokerage app, and pass on to your kids. The Purpose Bitcoin ETF didn’t just launch on February 18, 2021. It launched a new era.Was the Purpose Bitcoin ETF the first Bitcoin ETF in the world?
Yes. The Purpose Bitcoin ETF (BTCC), launched on February 18, 2021, on the Toronto Stock Exchange, was the world’s first spot Bitcoin ETF approved for retail investors. While Europe had Bitcoin exchange-traded products (ETPs), none were structured as true ETFs with daily creation/redemption mechanisms or direct Bitcoin holdings. Canada’s regulatory framework allowed for physical custody, making BTCC the first of its kind globally.
Can you hold a Bitcoin ETF in a TFSA or RRSP in Canada?
Yes. Canadian Bitcoin ETFs like Purpose’s BTCC and Evolve’s EBTC are approved for registered accounts, including Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs). This is a major advantage over buying Bitcoin directly on exchanges, which are not eligible for tax-advantaged accounts. Holding a Bitcoin ETF in a TFSA means any gains grow tax-free, and in an RRSP, they’re tax-deferred until withdrawal.
How does a Bitcoin ETF differ from buying Bitcoin directly?
Buying Bitcoin directly means managing a digital wallet, securing private keys, and dealing with exchange risks like hacks or downtime. A Bitcoin ETF lets you buy shares on a stock exchange like any other stock. The fund holds the Bitcoin for you, handles custody, and tracks the price. You get exposure without the technical burden - and you can trade it instantly during market hours.
Why did the U.S. delay Bitcoin ETF approval until 2024?
The U.S. Securities and Exchange Commission (SEC) initially rejected spot Bitcoin ETFs, citing concerns about market manipulation and lack of regulation on cryptocurrency exchanges. Instead, they approved futures-based ETFs like ProShares BITO in 2021, which tracked Bitcoin futures contracts - not the actual asset. It wasn’t until 2024 that the SEC changed its stance, approving spot ETFs that followed Canada’s proven model of physical custody and regulatory oversight.
Are there other Bitcoin ETFs in Canada besides Purpose’s?
Yes. Evolve Funds Group launched its Bitcoin ETF (EBTC) just one day after Purpose, on February 19, 2021. Since then, other providers like 3iQ and Bitwise have also launched Bitcoin ETFs in Canada. All of them hold physical Bitcoin and are eligible for registered accounts. Purpose remains the largest by assets under management, but the market has grown with multiple options.
Joe West
December 5, 2025 AT 17:24Can't believe Canada pulled this off before the US. I remember trying to explain to my uncle why he couldn't just buy BTC in his RRSP back in 2019. He thought it was some kind of pyramid scheme. Now he owns BTCC.B and talks about it like it's a mutual fund. Small wins, man.
nicholas forbes
December 5, 2025 AT 20:44It’s funny how the SEC kept saying ‘market manipulation’ while ignoring that Canada had already proven the structure worked. They weren’t protecting investors-they were protecting their own inertia.
Regina Jestrow
December 7, 2025 AT 20:04Okay but imagine being a Canadian investor in 2021 and just… suddenly being able to hold Bitcoin in your TFSA like it was Apple stock? Like, one day you’re side-hustling with Coinbase, next day you’re buying BTCC.B through your TD Direct Investing app. No wallet. No keys. Just… done. Mind blown.
Martin Hansen
December 8, 2025 AT 12:37Canada got lucky. They’re a tiny market with no real financial clout. The SEC didn’t approve because they were convinced-they just got pressured by the fact that Canadians were already doing it. Classic regulatory arbitrage. Don’t act like this was genius, it was opportunistic.
Lore Vanvliet
December 9, 2025 AT 06:23OMG THIS IS THE MOST IMPORTANT THING THAT EVER HAPPENED TO FINANCE 😭😭😭 CANADA JUST OUTSMARTED THE WHOLE WORLD AND NOBODY’S CELEBRATING?!?!?!?!? I’M CRYING RIGHT NOW. WHO’S GOT THE BACKING? WHO’S PAYING THE CUSTODIANS? THIS IS A COVER-UP. I SWEAR TO GOD THE FED IS HIDING SOMETHING.
Scott Sơn
December 9, 2025 AT 09:09Let me paint you a picture: February 18, 2021. The Toronto Stock Exchange is buzzing like a hive of crypto bees. Som Seif walks in like he just won the lottery with a flashlight. And boom-$400 million in 48 hours. That’s not an ETF. That’s a cultural reset. The world stopped saying ‘crypto is a fad’ and started saying ‘wait, can I buy this in my 401(k)?’
Stanley Wong
December 9, 2025 AT 22:35I think what’s really profound here is how Canada didn’t treat Bitcoin as something to fear or ban but as an asset class to regulate like gold or bonds. They didn’t wait for Congress to figure it out. They just looked at the problem-how do we let normal people invest safely-and built the solution. No grandstanding. No press conferences. Just paperwork and custody agreements. And it worked. That’s the quiet power of good regulation.
miriam gionfriddo
December 11, 2025 AT 20:22btw the purpose etf is not even the biggest one anymore lol and evovle is way less liquid and the custodian is kinda sketchy and i think they use bitgo but wait no thats not right its coinbase custodian right? or is it? idk i lost the link
Nicole Parker
December 13, 2025 AT 07:05It’s wild how something so technical-custody, NAV calculations, creation/redemption mechanics-ended up changing how regular people think about money. I used to think Bitcoin was for hackers and libertarians. Now my mom has it in her TFSA and talks about ‘dollar-cost averaging into BTC’ like it’s buying groceries. That’s not a financial innovation. That’s a social one.
Kenneth Ljungström
December 15, 2025 AT 03:39Big shoutout to Canada 🇨🇦. Seriously. You guys didn’t just launch an ETF-you gave people permission to invest without guilt. I’ve had so many friends say ‘I wanted to get into crypto but didn’t want to deal with the hassle.’ Now they just buy BTCC.B through their brokerage app. No drama. No panic. Just steady growth. You changed lives. 👏
Brooke Schmalbach
December 15, 2025 AT 23:37Let’s be real-this was just a marketing stunt disguised as innovation. Purpose Investments made a ton of money off fees. The fact that they held Bitcoin doesn’t make it safer. It just means they’re now the middleman instead of Coinbase. And don’t get me started on how the SEC let them do this but blocked 10 other applications. This isn’t progress-it’s gatekeeping.
Chris Jenny
December 17, 2025 AT 06:21They say Canada was first… but did you know the real reason they approved it? The Bank of Canada was already printing digital CAD and they needed a test case to see if people would accept digital assets. This wasn’t about Bitcoin-it was about surveillance currency. BTCC was the Trojan horse. Watch what happens next.
Uzoma Jenfrancis
December 19, 2025 AT 02:52Canada didn’t lead. The U.S. just got lazy. We have the infrastructure, the liquidity, the talent. But instead of building, we waited. Now we’re playing catch-up while Canada gets to say ‘we did it first.’ Classic. I’m not mad… just disappointed.
Doreen Ochodo
December 20, 2025 AT 14:56Canada did the thing. End of story. 🙌
Madison Agado
December 21, 2025 AT 22:52What’s interesting is that this wasn’t about Bitcoin at all. It was about trust. The fact that a government agency could say ‘yes, this is real, this is safe, this is yours’ and millions believed them-that’s the real breakthrough. We’ve spent decades trying to convince people that digital things can be owned. Canada just showed us how.
Tisha Berg
December 22, 2025 AT 09:57My dad used to say ‘if you can’t touch it, it’s not real.’ Now he has BTCC.B in his RRSP and says ‘I can’t touch the Bitcoin but I can see it in my app.’ Progress.
Billye Nipper
December 22, 2025 AT 14:10I just want to say… thank you, Canada. 🥹 I’ve been trying to get my parents to invest in crypto for years. They kept saying ‘it’s too risky.’ Then BTCC.B came out. Now they have it in their TFSA. They don’t even know what cold storage is. But they’re invested. And that’s all that matters. You made it safe for normal people.
Roseline Stephen
December 24, 2025 AT 09:23It’s funny how the same people who complain about ‘government overreach’ were the first to cheer when Canada approved the ETF. The moment it became a regulated product, suddenly it was ‘legitimate.’ Shows how much of our fear is about the label, not the asset.
Jon Visotzky
December 25, 2025 AT 00:10Anyone else notice how the US ETFs that launched in 2024 all look exactly like BTCC? Same custody rules. Same disclosure. Same ticker format. It’s like the SEC just downloaded Canada’s playbook and hit ‘copy paste.’ No innovation. Just imitation.
Isha Kaur
December 26, 2025 AT 16:43I remember when I first heard about this. I was in Delhi, scrolling through Reddit at 3 AM, and I thought-this is the future. Not because it’s Bitcoin, but because it’s accessible. In India, we still struggle to get even basic mutual funds into our PPF accounts. To see a country make digital assets part of mainstream retirement planning… it gave me hope. Maybe one day we’ll have our own version.
Glenn Jones
December 28, 2025 AT 15:39btw the purpose etf is a scam because they use a custodian that is linked to blackrock and blackrock is part of the globalist cabal that wants to replace all money with CBDCs so this is just a trap to get you to buy into the system and then they’ll freeze your assets and make you pay taxes on phantom gains and you’ll be sorry
Tara Marshall
December 30, 2025 AT 05:57Canada didn’t just approve an ETF. They gave the world a template for how to regulate innovation without killing it. That’s rarer than you think.
Nelson Issangya
December 31, 2025 AT 11:07People forget how scary this was. Back then, if you said ‘Bitcoin ETF’ in a room full of financial advisors, they’d laugh. Then Canada did it. And now? My entire firm recommends it. That’s not just a product change. That’s a mindset shift. Keep going.
Richard T
January 2, 2026 AT 08:55One thing I’ve noticed-most people don’t realize the ETF structure itself is what made it work. The creation/redemption mechanism kept the price from drifting. That’s why it traded within 0.2% of spot. That’s precision. That’s not luck. That’s engineering.
Frank Cronin
January 3, 2026 AT 05:24Oh look, Canada got to be the ‘first.’ How noble. Meanwhile, the U.S. had real institutions, real capital, real legal teams. They didn’t need to be the guinea pig. Canada took the risk so the rest of us could benefit. Classic. I’ll take the innovation, thanks.
Nina Meretoile
January 3, 2026 AT 16:00This is the kind of story that makes me proud to be part of the global community. Canada didn’t hoard the idea-they lit the match. And now the whole world is warming up. That’s leadership. Not with flags, but with frameworks.
Adam Bosworth
January 4, 2026 AT 02:44THEY STOLE OUR MONEY. THE ETF WAS A FRONT FOR THE FED TO TRACK EVERY BITCOIN TRANSACTION. THEY’RE USING THE CUSTODIANS TO MAP WALLET ADDRESSES. YOU THINK YOU OWN BTC? YOU OWN A SLIP OF PAPER THAT SAYS YOU OWN BTC. THEY OWN THE REAL ONE. WAKE UP.
Elizabeth Miranda
January 5, 2026 AT 12:25The real win here isn’t the ETF. It’s that regulators finally realized they didn’t have to choose between innovation and safety. They could have both. That’s the lesson we should carry forward.
Chloe Hayslett
January 7, 2026 AT 04:29Canada got lucky. If this happened in the U.S., it would’ve been a national scandal. But because it happened in a country that still uses maple syrup as currency, nobody cared. Classic.
Joe West
January 8, 2026 AT 00:24And now every U.S. ETF has the same custody rules as BTCC. Som Seif didn’t just launch a product-he launched a new standard. That’s legacy.
Nicole Parker
January 8, 2026 AT 11:24Exactly. It’s like Canada didn’t just build a bridge-they designed the blueprint everyone else copied. And nobody even thanked them.