Do you all are aware of the latest announcements made by Toronto Stock Exchange? Many of you are. This blog is all about the details of the latest trading news of the Toronto Stock Exchange. Great news for all the people who are in favor of bitcoins. Because people can now start bitcoin trading under the Purpose Bitcoin Exchange Traded Fund. The news was out on 18th February 2021. This is going to be the first bitcoin exchange-traded fund in the world. Such trading will be done under the following symbols:
- TSX: BTCC.B – Here the Canadian dollars denominated ETF non currency-hedged units
- TSX: BTCC.U – Here the US dollar-denominated ETF non-currency hedged units.
The detailed story is going to be more interesting:
1. If you were in search of a directly traded custody bitcoin ETF, Purpose Bitcoin ETF is the only and the first option in the world.
2. Toronto Stock Exchange allows you to make a direct investment in bitcoins that are physically settled. In this way, the leading cryptocurrencies are given more exposure.
3. In the latter half of 2020, a business of 250 billion dollars has been made by 794 ETFs. Canadian ETF is the leading investment sector operating globally.
4. Loui Anastasopoulos, President of TMX and officer of capital formation Enterprise Marketing department congratulated purpose investments for their great achievement. TMX is determined to help its clients meet their emerging needs. Moreover, this bitcoin ETF is publicly listed. Such a launch is supposed to give the Canadian market great success.
5. Loui is grateful to the stakeholders all across the world for their hard work and dedication. The expansion of the ETF industry has become possible mainly for the great efforts on the part of these stakeholders. They have also made the introduction of blockchain, cryptocurrencies, and likewise possible.
6. Stakeholders like regulators must be acknowledged for their workings that helped the investors to invest in the growth capital. These stakeholders have taken the Canadian market to a great height.
7. To celebrate this successful launch of bitcoin ETF Som Seif, the CEO and founder of Purpose Investments decided to go for virtual closure of the market on 19 Feb 2021. Let us know his feeling in the event of this launch:
Such decisions or announcements have made bitcoin trading possible in the easiest way. So Mr. Seif is very happy as this innovation is a great help for all the investors. As per his belief, bitcoin is the world’s first largest cryptocurrency. Bitcoin has appeared to all the investors as the biggest investment opportunity. These investments will not follow the traditional rules and regulations.
What about TSX-X(TMX group)
This group operates globally and its main functions are as follows:
- TSX Alpha Exchange
- Montreal exchange
- Toronto Stock Exchange
- TSX Venture Exchange
- The Canadian Depository for Securities
- Canadian Derivatives Clearing Corporation
This group helps the traders, investors and provides funds to various businesses.
The head office is in Toronto and has its branches in London, Singapore, and North America.
The motive behind the news release is to keep people updated about every announcement. This news does not influence anyone to invest in a particular asset. Such decisions must always be made under the supervision of a particular expert.
