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Purpose Investments Inc. Launches Currency-Hedged Class of Purpose Bitcoin ETF

/EIN News/ -- TORONTO, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) is pleased to announce the currency-hedged version of the world’s first Bitcoin ETF, Purpose Bitcoin ETF (“the ETF”), will begin trading today on the Toronto Stock Exchange (“the TSX”) under the ticker symbol BTCC. The ETF offers investors the simplest, most efficient way to gain exposure to Bitcoin without having to worry about the impact of currency fluctuations on their returns. With the launch of this new class, Purpose Bitcoin ETF is the first and only listed Bitcoin fund in the world that offers a currency-hedged version.

“We’re so happy to be able to now offer Purpose Bitcoin ETF with US dollar currency hedging to Canadian investors. There are many investors who prefer to hedge out currency risks in their portfolios and we wanted to make sure they could access Bitcoin in a manner that suits their investment goals best,” said Som Seif, founder and CEO of Purpose Investments. “Launching Purpose Bitcoin ETF represents a major innovation for investors seeking exposure to Bitcoin and we always knew we wouldn’t stop at just Canadian dollar and US dollar denominated units.”

Purpose Bitcoin ETF is now available in three versions trading on the TSX, giving investors the flexibility to invest in Bitcoin in whichever way best fits their goals.

ETF Class Currency TSX Symbol
Purpose Bitcoin ETF (CAD, FX-Hedged) CAD BTCC
Purpose Bitcoin ETF (CAD, non-FX-Hedged) CAD BTCC.B
Purpose Bitcoin ETF (USD, non-FX-Hedged) USD BTCC.U

Purpose Bitcoin ETF has made history as the world’s first ETF to give investors access to physically settled Bitcoin. In its first four days of trading since launching on February 18, 2021, investors acquired approximately $630 million dollars worth of units of the ETF making this one of the most successful ETF launches in Canadian history. Options on the ETF are trading live on the Montreal Exchange.

About Purpose Investments Inc.

Purpose is an asset management company with more than $10 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation, offering a range of managed and quantitative investment products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent, technology-driven financial services platform which is reshaping the industry by connecting and creating opportunities across asset management, wealth management and small business financial services.

For further information please contact:
Matt Padanyi
Purpose Investments Inc.
Tel: (877) 789-1517

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

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