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Bullboard - Stock Discussion Forum Purpose Bitcoin CAD ETF Currency Hedged T.BTCC.B


Primary Symbol: T.BTCC Alternate Symbol(s):  PPBCF | PRBEF | T.BTCC.J | T.BTCC.U

Purpose Bitcoin ETF (the Fund) seeks to buy and hold substantially all of its assets in the digital currency Bitcoin and seeks to provide unitholders of ETF units with the opportunity for long-term capital appreciation. To achieve its investment objective, the Fund invests in and holds substantially all of its assets in Bitcoin in order to provide unitholders with a secure, convenient, lower... see more

Bullboard (TSX:BTCC)

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Post by RosehipCaperon Feb 22, 2021 7:41am

CRAZY! QuestTrade Is Showing $20,000.00 Bid/Ask Pre Market..

Haha, What a Glitch!..  Maybey Someday......... GLTA
115
Discussion
Comment by Lawyerupon Feb 21, 2021 6:29pm

RE:RE:Security of the Bitcoin on these ETFs

True, I spread my bitcoin exposure around to different ETFs so I am a little more diversified than just owning one ETF.  Also I believe the US GBTC OTC fund they have to have some sort of ...more  
170
Discussion
Comment by Shadow1973on Feb 21, 2021 5:20pm

RE:Security of the Bitcoin on these ETFs

There is always inherent risk, just look at how many pages are devoted to that in the fund prospectus. I'd be more worrried about a cleaning person stealing your crypto wallet from your closet ...more  
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Discussion
Post by Lawyerupon Feb 21, 2021 2:40pm

Security of the Bitcoin on these ETFs

Okay I know I have heard its impossible for any of these ETFs to lose their bitcoin by hackers, get it stolen by insiders or any loss by missing bitcoin tokens.  What exactly guarantees do we ...more  
285
Discussion
Comment by Mat1791on Feb 20, 2021 4:09pm

RE:RE:RE:I'm confused

If the NAV valuation time is 4:00PM each trading day, then at the close on Friday the index that it tracks was $55,378.50 USD and we closed at $10.55 market value $10.51 NAV. Therefore if the index ...more  
406
Discussion
Comment by Okanaganon Feb 20, 2021 3:10pm

RE:RE:I'm confused

So Bitcoin ETF should now be about $11.32. Canadian At $57,000 u.s. per Bitcoin. If Bitcoin continues to trade this or higher ETF could open up higher than $11 on Monday. Am I sort of getting this
204
Discussion
Comment by Mat1791on Feb 20, 2021 2:19pm

RE:RE:Can this be traded like any other stock?

The fees are 1% plus HST (13%) = 1.13%.  The are calculated daily at average NAV and paid to the fund in arrears the following month. However, I'm not sure if they are accounted for each day ...more  
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Discussion
Comment by B4UInveston Feb 20, 2021 12:49pm

RE:Can this be traded like any other stock?

Purpose has a 1% management fee for this ETF, other than that it trades like any other stock But I wonder with the seeming SP confusion, have they been taking their fees
166
Discussion
Comment by Evminoon Feb 20, 2021 10:45am

RE:RE:RE:RE:BTC per share

Exactly,... not the premium/discount this trades at, but rather the dilution to BTC per Share.   But I believe the comments provided an answer to this.  Bc of the volatility in price of ...more  
206
Discussion
Comment by Mat1791on Feb 20, 2021 10:37am

RE:RE:RE:BTC per share

Shadow I believe EV was asking about the drop in BitCoin per unit not the premium/discount of the market price to NAV, which has stayed very tight considering the volume.   As you mentioned, the ...more  
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Discussion
Comment by Evminoon Feb 20, 2021 10:23am

RE:RE:RE:BTC per share

Thanks.  I thought that may be case.   Being open ended - clearly the additional purchase of the u/l asset would need to happen to balance everything.  Being a new ETF demand is high ...more  
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Discussion
Comment by Shadow1973on Feb 20, 2021 10:07am

RE:RE:BTC per share

I wouldn't worry about the .04 difference. It's when you start seeing those 10-40% premiums that I'd be worried (I didn't like QBTC and GBTC for that reason).  Regarding the ...more  
216
Discussion
Comment by Mat1791on Feb 20, 2021 9:54am

RE:BTC per share

EV, I'll take a stab at this, The fund is open, it uses a creation fund to add or subtract units in order to try and maintain a market value as close to NAV as possible. In times of great demand ...more  
217
Discussion
Post by Evminoon Feb 20, 2021 9:43am

BTC per share

Hey - can someone explain why in Purpose Investments website for BTCC where it shows the current valuation,... why BTC per Share is dropping ever so slightly? is there a Dilutive effect of more ...more  
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Discussion
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