Canada's first Bitcoin ETF reaches $421.8 million AUM in two days

Canada’s first publicly traded bitcoin ETF could reach $1 billion in assets under management by the end of the week, according to one analyst. As of Friday’s close, the fund had raised $421.8 million in AUM.
North America’s first publicly traded Bitcoin exchange-traded fund (ETF) has raised $421.8 million in assets under management (AUM) in two days.
Purpose Investment’s Bitcoin ( BTC , -0.6%) ETF officially began trading on the Toronto Stock Exchange (TSX) last Thursday under the ticker “BTCC.”
The fund received huge attention, with trading volume on the first day exceeding 100 million shares. As of the close of last Friday, the fund had raised $421.8 million in AUM.
Eric Balchunas, an ETF analyst at Bloomberg Intelligence, said on Twitter that Purpose Investment's Bitcoin ETF could reach $1 billion in assets by the end of this week.
Last Friday, another Bitcoin ETF, Evolve ETF, began trading on the Toronto Stock Exchange under the symbol "EBIT" with an AUM of $1.271 million.
The management fees for both Evolve and Purpose Investment’s Bitcoin ETFs are 1%.