- Purpose Bitcoin ETF (BTCC) marks the one-year anniversary of its Bitcoin ETF and shares plans for new DeFi and crypto advancements
- The exchange-traded fund now has over $1.6 billion of assets under management
- The company set up personal digital wallets and issued $100 of Ether per employee
- Purpose plans to expand its crypto offering into Australia
- Purpose’s parent company is focusing on blockchain technologies
- Purpose Bitcoin ETF (BTCC) is down 1.92 per cent trading at $8.18 per share as of 2:20 p.m. EST.
Purpose Bitcoin ETF (BTCC) marks the one-year anniversary of its Bitcoin ETF and shares plans for new DeFi and crypto advancements.
One month after its launch, the exchange-traded fund collected $1 billion of assets under management (AUM). Now BTCC has over $1.6 billion of AUM.
To commemorate its first year of crypto innovation, Purpose has minted an original limited-release Bitcoin NFT for its clients and partners. To encourage the company’s team, it set up personal digital wallets and gave $100 of Ether to every employee.
BTCC has become one of the largest Bitcoin spot ETFs because of its ability to accurately track the performance of Bitcoin, giving the fund a competitive advantage over futures-based products and non-redeemable trusts.
The fund reduces frictions that retail and investors have access to the crypto space, giving retail investors a way to securely invest in Bitcoin without incurring high fees of transactions on crypto exchanges.
Last year the company launched the world’s first Ether ETF, followed by the first three active crypto ETFs in the world.
Purpose plans to expand its crypto offering into Australia through a partnership with Cosmos Asset Management later this year. The partnership will deliver new product and investment options in the region. In addition, Purpose will expand its products in Canada with the launch of the Purpose DeFi Opportunities Fund on March 3.
Meanwhile, Purpose’s parent company, Purpose Financial, focuses on blockchain technologies to help transform the world of investments.
Purpose Bitcoin ETF (BTCC) is down 1.92 per cent trading at $8.18 per share as of 2:20 p.m. EST.