Canada made history on February 18, 2021, when the Purpose Bitcoin ETF (BTCC) began trading on the Toronto Stock Exchange — making it the world's first Bitcoin exchange-traded fund. This landmark event gave Canadian investors a regulated, tax-efficient way to access Bitcoin without managing wallets or crypto exchanges. Today, multiple Bitcoin ETFs compete for Canadian investors' attention. This guide compares the main options in 2025.
The Purpose Bitcoin ETF holds physical Bitcoin in cold storage custody. It was the first of its kind globally and remains one of the largest Bitcoin ETFs in Canada by assets under management.
BTCC was a first-mover and remains well-known, but its 1.00% MER is higher than newer competitors. For cost-conscious investors, alternatives with lower fees may be preferable for long-term holdings.
Evolve launched EBIT on the same day as BTCC, February 18, 2021, making it the co-first Bitcoin ETF globally.
EBIT's slightly lower MER compared to BTCC makes it a more cost-efficient option. Evolve is a Canadian ETF provider with a range of thematic and specialty ETFs.
CI Galaxy launched its Bitcoin ETF in March 2021 and has competed aggressively on fees, offering one of the lowest-cost options in the Canadian market.
For long-term holders focused on minimizing costs, BTCX.B's lower MER is a significant advantage. CI Financial is one of Canada's largest independent investment managers, and Galaxy Digital is a major institutional crypto firm.
Fidelity Investments Canada launched FBTC in November 2021, bringing the brand recognition of a global asset management giant to the Canadian Bitcoin ETF market.
Fidelity custodies Bitcoin itself using its own institutional-grade digital asset custody solution, which may appeal to investors who trust the Fidelity brand.
3iQ is a Toronto-based digital asset manager that was one of the earliest movers in Canadian crypto funds (prior to ETFs, it ran closed-end Bitcoin funds). BTCQ launched on the TSX and is another solid option.
The main differentiators among Canadian Bitcoin ETFs are:
For most long-term investors, the key factor is fees. BTCX.B (0.40% MER) and FBTC (0.39% MER) offer the lowest annual costs. Over a 10-year period on a $100 investment growing at 10% per year, the difference between a 0.40% and 1.00% MER amounts to hundreds of dollars in additional returns.
For investors who prioritize liquidity and the most established product, BTCC remains the most widely traded Canadian Bitcoin ETF.
Bitcoin ETFs can be purchased through any Canadian online brokerage:
Simply search the ticker (e.g., BTCX.B or FBTC) in your brokerage app and buy units the same way you would buy any stock or ETF. You can hold them in a TFSA, RRSP, FHSA, RESP, or non-registered account.
Bitcoin ETF gains are treated as standard capital gains — 50% inclusion rate for gains in a taxable account. In a TFSA, all gains are completely tax-free. In an RRSP, gains are tax-deferred until withdrawal.
Unlike holding Bitcoin directly, there is no requirement to track an Adjusted Cost Base per coin, report crypto-to-crypto trades, or file T1135 for foreign crypto holdings. The ETF wrapper dramatically simplifies crypto tax reporting.
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