Canadian Bitcoin ETFs are facing some challenges this year. They’ve seen net outflows, which means more investors are pulling their money out than putting it in. Why is this happening? Well, it turns out that U.S. funds are becoming more attractive due to their liquidity, according to Tasevski from Purpose Investments.
This year has been a record-breaking one for Bitcoin. However, the creators of the first Bitcoin ETFs, launched in Canada back in February 2021, seem to be getting left behind. Initially, these ETFs drew in billions from both Canadian and international investors eager to invest in Bitcoin.
But now, with the approval of U.S. Bitcoin ETFs earlier this year, many investors are starting to rethink their Canadian crypto investments. It’s a significant shift in the market.