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The Mega-Plan of Purpose Investing After the Global Success of Bitcoin ETFs

The Objective Bitcoin ETF, which the company launched a year ago today, was the world’s first bitcoin ETF backed by physically settled bitcoin. Within a month, it had accumulated $1 billion in assets under management, making it one of the fastest growing ETFs of all time and huge investor demand for a safe, easy way to get bitcoin exposure. performed.

Tsevsky said the fund has attracted both individual and institutional investors, particularly large pension funds, and is now worth $1.7 billion. Year-to-date returns were down around 3.9%, which is in line with bitcoin pricing, but February returns of 14.6%.

“We are seeing real traction, even though there is a large number of both individual retail investors, but more importantly, institutional investors that have yet to enter the space,” Tsevsky said. “I think we will see widespread adoption as time goes on. But, what we have done is provide them with the best way to invest in this asset class.”

Objective launched five crypto ETFs last year, including three more actively traded cryptocurrency-focused funds in late November. But Tsevsky added that the bitcoin ETF aimed at “a truly global innovation that eventually merged the traditional world and the crypto world, and it was really important globally.”

He added that the structure has worked extremely well in providing exposure to a separate asset class that “operates outside the rails of transitional finance”. It provides a safe, easy and convenient way for investors to access bitcoin, especially because of some unregulated channels causing “meaningful losses” to investors. He said the fund has addressed those “pain points,” but it also positions Canada and Purpose as a global leader.

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