We’ve written in detail about why regulation in crypto is a good thing.
A more transparent landscape paves the way for more prominent players to enter the industry, while certainty enables institutions to invest.
So if you’re fearful regulation will detract from the opportunity, maybe it’s time to reconsider. Now is as good a time as any — because we’ve just seen two new Bitcoin ETFs enter the Canadian market.
Here’s why they’re a good omen for everyone interested in crypto.
Canada’s First Bitcoin ETF
The securities regulators in Canada recently approved two Bitcoin ETFs.
Purpose Investment’s BTCC fund trades on the Toronto Stock Exchange, attracting $421.8m in assets under management in its first two days: a bullish signal showing just how much Canadian investors want exposure to BTC.
The second fund, the Evolve ETF (trading under the ticker EBIT), started trading two days after BTCC, attracting less initial investment. But the launch still signals the global cryptocurrency market’s strength.
And while the uptake itself is great news; what’s even more important is how these ETFs will place regulators under increased scrutiny.
Let us explain.
More ETFs Will Result In More Detailed Regulation
As it becomes easier for investors to access Bitcoin, Ethereum, and other digital currencies, regulators will need to introduce more safeguards.
The two Canadian ETFs will ensure more detailed regulation is on its way, giving more certainty to every crypto company and investor worldwide. And increased confidence in the sector can only be a good thing.
Especially as we onboard clients to the Elitium App.
Prepare for smarter crypto wealth management: join the waiting list for the Elitium App today.