Purpose Bitcoin ETF Hits $1 Billion

Purpose Investments Fund launched a bitcoin exchange-traded fund (ETF) earlier this year, the first-such product to receive regulatory approval in North America. Since then, it has demonstrated an incredible appetite for such a product, breaking records in its first few weeks and now accruing $1 billion in assets.

“Less than two months after launching, the first North American Bitcoin ETF already reached $1 billion … in assets,” Bloomberg reported. “The product from Toronto-based Purpose Investments, ticket BTCC, has seen massive interest as investors clamor for crypto exposure, especially in an exchange-traded fund wrapper.”

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