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Grayscale Bitcoin Trust (GBTC)
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North Peak Resources Ltd Com (IBIT)
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Purpose Bitcoin ETF (BTCC.B)
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Fidelity Wise Origin Bitcoin Fund Beneficial Interest (FBTC)
Q: Beside exchange rates effects, is there any major difference in owning a CAD bitcoin etf like BTCC.B vs one of the newly minted US BTC etfs? I use GBTC as an example but if there's some you like better please mention.
5i Research Answer:
The main differences lie in custodianship, fees, liquidity, exchange rate, and issuer, but those items aside, both Canadian and US bitcoin ETFs offer the same exposure to spot bitcoin. Both will track the underlying price of bitcoin.
BTCC.B uses Gemini Trust as its custodian, whereas Blackrock and other US issuers use Coinbase as their custodian. The US ETFs are already much more liquid, have lower fees, and have better issuer credibility (BlackRock, Fidelity, etc.) than the Canadian ETFs. Overall, we would prefer the US ETFs, although this does imply exchange rate fees.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in BTCC.B.