First Bitcoin ETF To Pay Monthly Yield Launches In Canada

Bitcoin Magazine

  • A bitcoin ETF offering monthly yields has been listed in Canada today.
  • The Purpose Bitcoin Yield ETF is live on the Toronto Stock Exchange under the ticker symbol BTCY.B.
  • Purpose Investments employs a derivatives-based covered call strategy to pay investors an expected eight to ten percent annual yield.

Canadian investors can now receive a monthly bitcoin yield through a new exchange-traded fund (ETF) listed on the Toronto Stock Exchange (TSX), reported Yahoo Finance. The Purpose Bitcoin Yield ETF employs a derivatives-based covered call strategy to pay investors a monthly yield.

The fund was created by Purpose Investments, the asset manager that launched the first bitcoin exchange-traded fund (ETF) in North America. The pioneering product launched in February broke records in its opening week after trading $80 million worth of shares within the first hour and $200 million on its first day.

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