Canadian Bitcoin ETF predicted to hit $1B AUM by Friday: Bloomberg analyst
With only two full days of trading under its belt, the first (BTC) exchange-traded fund in North America reached more than $400 million in volume and is expected to go even higher.
According to a tweet from Bloomberg analyst Eric Balchunas, the Bitcoin exchange-traded fund, or ETF, recently debuted by Canadian firm Purpose Investments is likely to hit $1 billion in assets under management by Feb. 26. His prediction came prior to Purpose reporting its Bitcoin ETF traded $421.8 million between the time when it was first listed on the Toronto Stock Exchange, or TSX, on Feb. 18 and when markets closed Friday. The ETF is listed under the ticker BTCC.
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