Bitcoin ETFs were launched in Canada in February 2021, making them the first in the world.
That led to billions of dollars of inflows from investors who wanted exposure to the original digital currency. But when US bitcoin ETFs were approved earlier this year, some investors began to reconsider their Canadian crypto investments.
Canadian bitcoin ETFs have seen C$578 million (about R7.3 billion) in net outflows so far through 13 December, according to data compiled by TD Securities.
Crypto ETFs are the only ETF category in Canada to see outflows this year, while US bitcoin ETFs have seen a $36 billion (nearly R650 billion) in inflows through 16 December.
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