Purpose Bitcoin ETF is simple and no different from other ETFs when it comes to the client experience:

1. You, the investor, purchase ETF units on the Toronto Stock Exchange (TSX) just the same as you would purchase any other stock or ETF.
2. Purpose will then use your proceeds to purchase Bitcoin from institutional-grade liquidity providers.
3. The Bitcoin is then settled and stored into our secure, offline wallet (also known as a cold wallet)
4. Similar to commodity funds, as the investor you now own units of the ETF, which owns physically settled Bitcoin

The ETF utilizes institutional-grade liquidity providers, to help us buy Bitcoin at the best possible price for investors. We do not use retail cryptocurrency exchanges to make our Bitcoin purchases to ensure our transactions are as secure as possible.

• Your Bitcoin assets are safely held with leading cryptocurrency custodians, Gemini Trust Company and Coinbase Custody Trust Company.
• Both Gemini and Coinbase are licensed New York State trust companies that undergo regular bank exams and cybersecurity audits.
• Day-to-day, your Bitcoin is held in Purpose’s secure, offline wallets, which are disconnected from the internet, significantly reducing the risk of theft.

The Bitcoin in the ETF is held in secure, offline storage, which is also known as “cold” storage because it is not actively connected to the internet. We do use an online or “hot” wallet, but only for transitory purchases when the ETF is buying and selling Bitcoin. The ETF only invests in and holds 100% physically settled Bitcoin.

Just like your chequing account, there is always risk of theft. We can’t guarantee there is no risk. However, we’ve taken every precaution possible to make sure your assets are safely held. There have been multiple instances of Bitcoin being “hacked.” These stories are true, but typically happen with unregulated exchanges that lack proper controls. Our custodian, Gemini, has insured its assets for up to $200 million against theft.

Absolutely! One of the main reasons why we wanted to launch this ETF was to give investors the ability to gain exposure to Bitcoin through registered accounts.

Yes. The ETF is offered in CAD denominated (BTCC for $CAD FX Hedged and BTCC.B for $CAD Non-FX Hedged) as well as USD denominated units (BTCC.U $USD Non-FX Hedged).

The ETF uses the Tradeblock XBX Index to calculate its Net Asset Value.

Purpose Bitcoin ETF is trading on the Toronto Stock Exchange under the tickers BTCC ($CAD FX Hedged) and BTCC.B ($CAD Non-FX Hedged) as well as USD denominated units (BTCC.U $USD Non-FX Hedged).

No, at the moment we do not offer the option to redeem ETF units for your share of Bitcoin holdings.

• If you are an institutional investor, please contact us.
• If you are a retail investor, most US brokerages do not allow retail investors to purchase foreign ETFs or mutual funds that trade on foreign exchanges. Please reach out to your brokerage to see if you are able to purchase the Purpose Bitcoin ETF.

• Great question! These three ticker symbols offer three different currency options, outlined below. Remember - All series hold the same underlying asset: Bitcoin!

• BTCC is purchased with Canadian dollars and hedges US currency exposure

• BTCC.B is purchased with Canadian dollars and does not hedge US currency exposure

• BTCC.U is purchased with US dollars, allowing investors to hold Bitcoin in USD.

When buying a Canadian-listed ETF that holds assets in a different currency, an investor takes on currency risk. This risk can either help or hurt performance, depending on whether our dollar strengthens or weakens against the foreign currency.

By buying a currency hedged version, we mitigate currency risk by ‘hedging’ against USD currency. What’s left? Simply Bitcoin, without needing to worry about CAD/USD currency fluctuations.

The price of Bitcoin is often quoted US dollar terms, both in the media and on websites. Since BTCC.B is purchased in Canadian dollars, holders should monitor the Canadian dollar Bitcoin price pairing to exclude US dollar currency impacts.

The ETF only invests in and hold 100% physically settled Bitcoin.

Futures contracts have a finite lifespan. That means the fund manager has to sell expiring contracts and re-buy the contracts with a later date. This process creates a gain or loss. In a normalized market, the futures curve is upward sloping, meaning you are selling low and buying high to maintain the same exposure to Bitcoin. By owning physical Bitcoin, an investor doesn’t need to worry about losses associated with continuously selling and rebuying futures contracts. You simply own Bitcoin.

Smart question! We’re glad you asked. There are four core advantages to an ETF over a Bitcoin marketplace:

• Taxes: While you can purchase an ETF in a tax-deferred or tax-free registered account, Bitcoin marketplaces can only allow purchases through non-registered, taxable accounts.
• Ease: There are several steps to purchasing Bitcoin through a marketplace. When you buy an ETF, you don’t have to worry about custody, security or a host of other issues.
• Security: Currently, Bitcoin marketplaces are much less regulated than security exchanges. Investors need to take additional steps to protect their assets from cybersecurity and theft, like constructing or contracting their own cold wallet.
• Execution: Individual marketplaces have been known to have pricing issues relative to other marketplaces. By using a proprietary index methodology from our partners at TradeBlock, we are insulated from pricing anomalies that have been documented at individual marketplaces.

An ETF provides a more pure exposure to Bitcoin and the structure better reflects what investors are looking for – to track the price of Bitcoin. Unlike ETFs, closed-end funds cannot quickly add or remove units to maintain consistent exposure. This means that closed-end funds may trade at a premium or a discount, depending on the amount of demand. In a Bitcoin fund trading at a premium, investors may incur losses from both a decline in the price of Bitcoin and the premium being compressed. An ETF has a robust creation and redemption process that allows exposure to expand and contract as necessary to accommodate demand.

No, it’s just not possible. The ETF will trade only during market hours, 9:30AM EST – 4:00PM EST, Monday – Friday (excluding Canadian holidays).

BTCC can be bought anytime throughout market hours, however we recommend using a limit order and avoiding purchases near market open (9:30AM EST) and close (4:00PM EST).