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North Peak Resources Ltd Com (IBIT)
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Purpose Bitcoin ETF (BTCC)
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Fidelity Advantage Bitcoin ETF (FBTC)
Q: Which one of these three bitcoin ETFs on the TSX is best? Its for a non-registered account if that makes a difference.
5i Research Answer:
We prefer the IBIT ETF. While FBTC is a close second, as it has a solid AUM and a decent MER (0.43%), it self-custodies the Bitcoin held, and while we think Fidelity has definitely put in the time and effort to research how to safely self-custody, we do feel this adds some risk as opposed to other funds that custody with a well-versed crypto company like Coinbase.
The IBIT ETF (Canadian version) technically has a smaller AUM ($214M) than FBTC, but its only holding is the US IBIT ETF, which has the largest AUM of all bitcoin ETFs, globally. Its MER of 0.32% is also lower than FBTC.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in IBIT, FBTC.