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Highlights
- Out of the five ETFs discussed here, the highest Net Asset Value (NAV) stood at C$ 17.47 and the highest price return was 231 per cent on a year-to-date basis.
- These ETFs provide its unitholders an avenue to trade in global alternative asset classes, i.e. bitcoin and other cryptocurrencies.
- The ease of trading and the increase in demand for an alternative asset class could draw the attention of investors.
Investors and crypto enthusiasts often seek out cryptocurrency-related stocks to invest in.
However, there are also some exchange-traded funds (ETFs) focussed on cryptos available in the market that interested traders can explore and add to their portfolio based on their risk and return appetite.
Here, we look at a few such cryptos ETFs traded in the Toronto Stock Exchange.
- 3iQ CoinShares Bitcoin ETF (TSX:BTCQ)
This ETF provides the investors' exposure to bitcoin and its daily price movements in the US dollars.
The 3iQ CoinShares ETF was launched on March 31, 2021, holding a Net Asset Value per unit (NAVPU) of C$ 12.567 at inception.
It posted an NAVPU of C$ 9.78 on August 16.
The ETF closed at C$ 9.76 apiece on August 16, trading roughly two per cent below its 52- week high of C$ 9.98.
The 3iQ CoinShares ETF held a market cap of C$ 1.15 billion.
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- Bitcoin Fund (TSX:QBTC)
Bitcoin Fund has been ranked as one of the top price performers on the TMX. The Canadian close-end fund seeks to invest in long-term bitcoin holdings to offer investors an alternative avenue to trade in bitcoins.
The ETF closed at C$ 59.8 on August 16, trading some 172 per cent above its 52-week low of C$ 21.96 (October 26, 2020) and roughly 33 per cent below its 52-week high of C$ 89.5 (April 14, 2021).
In the last nine months, Bitcoin Fund’s price ballooned up by about 113 per cent. It shot up by 31 per cent on a quarter to date (QTD) basis.
Also Read: 5 best TSX ETFs to buy in Canada
- CI Galaxy Ethereum ETF (TSX: ETHX.B)
Launched on April 16 this year, CI Galaxy Ethereum ETF engages in alternative assets class with a global focus.
Its NAV per unit stood at C$ 14.6 on August 16, with its total NAV amounting to over US$ 643 million.
CI Galaxy Ethereum ETF closed at C$ 14.72 on August 16, trading about 92 per cent above its 52-week low of C$ 7.76 (June 22, 2021) and around 24 per cent below its 52-week high of C$ 19.66 (May 12, 2021).
The fund returned some 63 per cent in the last one month and increased by roughly 36 per cent on a month-to-date (MTD) basis.
- Ninepoint Bitcoin ETF (TSX:BITC)
Ninepoint Bitcoin ETF claims to be an eco-friendly Bitcoin investment option, as it utilizes a part of its fee to counterbalance the carbon emitted in the creation of the bitcoins included in this ETF.
The ETF was launched on May 6, 2021. It noted an NAV per unit of C$ 17.5 and a total NAV of over US$ 93 million on August 16.
Ninepoint Bitcoin ETF closed at a value of C$ 17.48 on August 16. It holds a 52-week high of C$ 24.44.
In its efforts to negate the carbon issue with bitcoin creation, this ETF has partnered with eco-friendly software fintech Carbon X, which offers services in regards to carbon offsetting and carbon emission analysis.
Also Read: 10 cryptos beyond Bitcoin & Ether that have massive YTD growth
- The Ether Fund (TSX: QETH.U)
This Canadian closed-end ETF provides investors an exposure to the digital coin of Ether.
The Ether Fund closed at a value of C$ 51.93 on August 16. It holds a 52-week high of C$ 72.48 (May 12, 2021) and a 52-week low of C$ 10.57 (December 11, 2020).
Bottomline
There has been an increased focus on the regulation of cryptocurrencies around the world, amid an expanded acceptance of crypto tokens in mainstream operations.
Nonetheless, some of the inherent risks, such as volatility and cyber attacks on crypto trading platforms, continue to reflect in cryptocurrencies. For this reason, investors exploring cryptos or crypto ETFs should ensure thorough research before investing.
