Purpose Bitcoin ETF, the first-ever launched BTC exchange-traded fund, has surpassed $1 billion assets under management mark, according to Seeking Alpha. The ETF was created to bring cryptocurrency to the mainstream.

  • Purpose Investments CEO Som Self, said they were filling a void in the market when they launched the ETF.
  • The Canadian exchange-traded fund was the first launched Bitcoin ETF and the only that invests in and holds 100% physically settled Bitcoin.
  • Purpose Investments has inspired other organizations to file for Bitcoin based EFTs and funds.
  • Recently, Wisdom Tree also filed with the U.S Securities Exchange Commission to launch the WisdomTree Bitcoin Trust.

Bitcoin is currently gaining. BTC/USD is up 1.84%