Purpose Investment, the first publicly traded Bitcoin exchange traded fund (ETF) in North America is reportedly collected $421m in Asset Under Management (AUM) in two days.
The firm’s bitcoin ETF officially started trading on the Toronto Stock Exchange (TSX) under the ticker “BTCC” on Thursday.
The fund has seen huge interest and is trading well over $100 million shares on its first day. By the closure of Friday market, it had collected $421.8 million AUM.
According Bloomberg Intelligence ETFs analyst Eric Balchunas in a tweeted the Purpose Investment’s bitcoin ETF could reach $1 billion in assets by the end of next week.
Similarly, another bitcoin ETF, the Evolve ETF, Friday started trading on the TSX under the ticker “EBIT” and has $1.271 million AUM.
Both Evolve and Purpose Investment’s bitcoin ETFs have a management fee of 1%.