The world's first bitcoin ETF launched on the Toronto Stock Exchange (TSX) in February 2021. Since then, several more have launched, and Canada now has bitcoin ETFs from Purpose, Evolve, Fidelity, CI Galaxy, 3iQ and BlackRock. This page covers the best bitcoin ETFs in Canada.
A bitcoin ETF suits both crypto investors and regular stock market investors. Crypto can easily be lost or stolen. When you buy crypto directly, you have to sign up for a crypto exchange in Canada, buy, withdraw and then manage your assets safely. Any tiny mistake can cost you all of it. You must trust yourself fully to keep your crypto safe. If you lose things easily, or you are not technologically literate, buying on an exchange might not be best for you. In that case, a bitcoin ETF is a great option.
With a bitcoin ETF you get exposure to bitcoin without private keys, crypto wallets or exchanges. It does not give you custody of the bitcoin, which is a drawback for some. The major advantage is that you can often hold it in a TFSA, where gains are tax-free, or an RRSP, where deposits can reduce your income tax.
If you want to invest in a bitcoin ETF in Canada, I have listed the options below, from the issuers' own pages.
The cheapest Canadian bitcoin ETFs I verified are the BlackRock iShares Bitcoin ETF (IBIT, 0.33% MER) and the Fidelity Advantage Bitcoin ETF (FBTC, 0.35% MER). CI Galaxy (BTCX.B) charges 0.71%, Purpose (BTCC) 1.29% and 3iQ (BTCQ) 1.47% on its last published MER. You buy any of them through a normal brokerage such as Wealthsimple, and none of them gives you the actual coin.
Cheapest: BlackRock IBIT, then Fidelity FBTC
Mid Price: CI Galaxy BTCX.B
First Bitcoin ETF In The World: Purpose BTCC, at a higher fee
Six Bitcoin ETFs In Canada Compared
Fund
Tickers
Mgmt Fee
MER
Launched
BlackRock iShares Bitcoin ETF
IBIT, IBIT.U
0.32%
0.33%
Jan 2025
Fidelity Advantage Bitcoin ETF
FBTC, FBTC-U
0.32%
0.35%
Nov 2021
CI Galaxy Bitcoin ETF
BTCX.B
0.40%
0.71%
Mar 2021
Evolve Bitcoin ETF
EBIT, EBIT.U
0.75% plus tax
Not re-verified
Feb 2021
Purpose Bitcoin ETF
BTCC, BTCC.B, BTCC.U
1.00%
1.29%
Feb 2021
3iQ Bitcoin ETF
BTCQ, BTCQ.U
1.00%
1.47% (2025)
Mar 2021
All figures come from the issuers' own fund pages. MERs are as of the dates on those pages, mostly June 30, 2026.
What Is A Bitcoin ETF?
A bitcoin ETF is a managed bitcoin fund that you buy shares in. Bitcoin is not a stock, so the fund buys actual bitcoin and has a custodian store it. Each share represents a slice of that bitcoin. You do not have custody of the bitcoin itself, so you cannot transfer it to a private wallet.
How Much Do Bitcoin ETFs Cost Each Year?
The management fee can look cheaper than the capital gains tax you may owe when you buy and sell bitcoin yourself, but the fee is charged every year whether the price rises or not. Look at the MER, which adds operating costs to the management fee.
The dollar figures are the MER multiplied by $1,000. They do not include brokerage commissions or the bid-ask spread, and the MER changes each year.
What Is The Best Bitcoin ETF To Buy In Canada?
Six funds, ordered from lowest to highest MER where one is published.
1
BlackRock Bitcoin ETF (IBIT)
Best for: Buyers who want the BlackRock name at a low fee, priced in Canadian dollars
Tickers: IBIT (CAD), IBIT.U (USD), listed on Cboe Canada
Management Fee: 0.32%
MER: 0.33% (as of September 30, 2026)
Launched: January 2025
This is the newest of the group and the one to look at if fees are your first filter. BlackRock Canada's launch materials describe it as gaining its bitcoin exposure through BlackRock's US-listed iShares Bitcoin Trust, priced in Canadian dollars. BlackRock's fund page describes a custody arrangement built with Coinbase Prime.
2
Fidelity Advantage Bitcoin ETF (FBTC)
Best for: Investors who want the lowest ongoing cost from a big-name issuer
Tickers: FBTC (CAD), FBTC-U (USD)
Management Fee: 0.32%
MER: 0.35% (as of March 31, 2026)
Launched: November 30, 2021
Fidelity cut the management fee from 0.39% to 0.32% effective January 13, 2025, and the fund now sits at the cheap end of the Canadian bitcoin ETF shelf. Fidelity says it stores the bitcoin with its own in-house storage service, with at least 98% held in cold wallets.
3
CI Galaxy Bitcoin ETF (BTCX.B)
Best for: A mid-priced fund with a long track record on the TSX
Tickers: BTCX.B (CAD unhedged)
Management Fee: 0.40%
MER: 0.71% (as of June 30, 2026)
Launched: March 2021
The 0.40% management fee looks as cheap as Fidelity's at first glance, but the MER of 0.71% tells you the operating costs add a lot. That gap is exactly why I compare MERs and not headline fees.
4
Evolve Bitcoin ETF (EBIT)
Best for: Holders who want a CAD unhedged unit and plan to use options
Tickers: EBIT (CAD unhedged), EBIT.U (USD)
Management Fee: 0.75% plus sales tax
MER: Check the current ETF Facts
Launched: February 2021
Evolve says EBIT holds physical bitcoin, tracks the CME CF Bitcoin Reference Rate and is TFSA and RRSP eligible, with options available on the units. Distributions are annual, if any. I have not re-verified an MER for this one, so read the ETF Facts before you size a position.
5
Purpose Bitcoin ETF (BTCC, BTCC.B)
Best for: Investors who want the first bitcoin ETF in the world and do not mind the fee
MER: 1.29% for BTCC and BTCC.B (as of June 30, 2026)
Launched: February 2021
Purpose launched the Purpose Bitcoin ETF in February 2021, and it is still the name most Canadians know. Purpose says the fund holds bitcoin directly in cold storage, with several sub-custodians including Anchorage Digital Bank. The cost is the catch: the 1.29% MER is about four times the cheapest funds above.
One trap on search results: BTCC is also the name of a crypto exchange. The ETF and the exchange are different companies. Purpose Investments issues the ETF, while the exchange is run by BTCC Limited of Hong Kong. When you type the ticker into your brokerage, check that you land on the ETF.
6
3iQ Bitcoin ETF (BTCQ)
Best for: Holders who already own it and want a custodian other than the big issuers
Tickers: BTCQ (CAD), BTCQ.U (USD)
Management Fee: 1.00%
MER: 1.47% (3iQ's page shows June 30, 2025)
Launched: March 2021
3iQ names Tetra Trust Company as primary custodian, with Coinbase Custody Trust Company as sub-custodian. At 1.00% for the management fee and 1.47% for the last MER 3iQ published, it is the most expensive fund on this list.
How Do I Buy A Bitcoin ETF In Canada?
Open a brokerage account at Wealthsimple or Questrade, fund it by bank transfer, search the ticker and buy shares. Both offer TFSA, RRSP and personal accounts. Wealthsimple lists $0 commission on ETF trades, and a 1.5% currency conversion fee if you buy US-listed securities without a USD account, so the CAD unit of a Canadian fund is usually the simpler choice.
Can I Hold Bitcoin In My TFSA?
You can hold a bitcoin ETF in a TFSA or RRSP at a brokerage, if the fund is an eligible investment for that account. Evolve states that EBIT is TFSA and RRSP eligible. Check the ETF Facts of any other fund before you buy. Gains inside a TFSA are tax-free, though your contribution room is limited each year. In an RRSP, deposits can reduce your income tax.
Outside a registered account, CRA generally treats cryptocurrency like a commodity, and gains are generally taxable as capital gains or business income depending on the circumstances.
Is It Better To Buy Bitcoin Directly Or Through An ETF?
The ETF route is for people who do not want to handle keys or an exchange. You buy through your brokerage, and a fund manager holds the bitcoin. The direct route is for people who want to withdraw bitcoin to their own wallet, spend it or send it. With an ETF you cannot access the bitcoin directly.
If you pick the direct route, buy from a CSA-registered platform. These are the four highest-ranked ones on my list.
These are the four highest-ranked CSA-registered platforms on my list. The full ranking, including platforms that are not CSA-registered, is on the best crypto exchanges page. KuCoin is on the CSA banned list, and Bitget, Bybit and Binance are not available to Canadians.
Which Is Better, Coinbase Or Wealthsimple?
They do different jobs. Wealthsimple is where you would buy a bitcoin ETF, with $0 commission on ETF trades. Wealthsimple Crypto also sells the coin itself, with a flat 0.5% fee plus a spread on market orders, or a 0% spread for Active Trader accounts. Coinbase charges a spread plus a Coinbase fee on simple buys, and its Canadian disclosure shows a 1.875% fee that varies by payment method. Both are CSA-registered.
If your goal is the coin itself, compare the two on my exchange ranking, where Coinbase scores 9.8 and Wealthsimple Crypto 8.4.
What Are The Pros And Cons Of A Bitcoin ETF?
Pros
Exposure to bitcoin
No wallets or private keys to deal with
Funds held by a professional custodian, often in cold storage
Easy to buy and sell
Keeps your investments in one place
May be eligible for a TFSA or RRSP
Cons
Annual fees, from 0.33% to 1.47% MER
You do not have custody of the bitcoin
You must trust the asset manager, custodian and your brokerage
Tracks only bitcoin
Volatile asset
Is It Worth Investing In A Bitcoin ETF?
It is worth it if you want bitcoin exposure but not the hassle of private wallets and exchange security, or if you want it inside a TFSA or RRSP. It is not worth it if you want to hold your own keys. A Canadian bitcoin ETF may not appeal to everyone because of the annual fees and the lack of custody, but for people who find exchanges and wallets confusing it is a sensible entry point.
Be clear about one thing: investing in a bitcoin ETF carries the same price risk as bitcoin. If the price plummets, so does the fund. Bitcoin is highly volatile, so use caution.
Oleg's takeI do not have a favourite fund. If I bought one today I would pick on cost, and the lowest MER on this list is BlackRock's iShares Bitcoin ETF (IBIT) at 0.33%, with Fidelity's FBTC close behind at 0.35%. In a buy-and-hold fund the fee is the one thing you control, so I would not pay three or four times more for the same bitcoin exposure.
What Changed For Bitcoin ETFs In Canada In October 2026?
Fidelity cut the management fee on FBTC from 0.39% to 0.32%.
BlackRock began trading IBIT on Cboe Canada at a 0.32% management fee.
Latest published MERs: BTCC 1.29% and BTCX.B 0.71%.
BlackRock reports the IBIT MER at 0.33%.
Which Bitcoin ETF Fits You?
Lowest cost: IBIT or FBTC. A mid-priced fund from a long-running Canadian issuer: CI Galaxy BTCX.B. The best-known name: Purpose BTCC, at a higher fee. Want exposure beyond bitcoin? See my page on crypto ETFs in Canada, or take the crypto quiz.
Frequently Asked Questions
What Is The Best Bitcoin ETF In Canada?
The cheapest I verified are the BlackRock iShares Bitcoin ETF (IBIT, 0.33% MER) and the Fidelity Advantage Bitcoin ETF (FBTC, 0.35% MER). CI Galaxy BTCX.B is 0.71% and Purpose BTCC is 1.29%.
What Is The Ticker For The Purpose Bitcoin ETF?
BTCC is the CAD hedged unit, BTCC.B is the CAD unhedged unit, BTCC.U is the USD unit and BTCC.J is the carbon offset unit. The BTCC exchange is a different company.
What Is The BTCX.B Ticker?
BTCX.B is the CAD unhedged unit of the CI Galaxy Bitcoin ETF, with a 0.40% management fee and a 0.71% MER as of June 30, 2026.
Can I Hold Bitcoin In My TFSA?
You can hold a bitcoin ETF in a TFSA at a brokerage if the fund is an eligible investment. Evolve states that EBIT is TFSA and RRSP eligible. Check each fund's ETF Facts.
Is It Better To Buy Bitcoin Directly Or Through An ETF?
Buy the coin if you want to withdraw or spend it. Buy an ETF if you want exposure in a registered account without managing keys.
What Is The Difference Between Bitcoin And A Bitcoin ETF?
On an exchange, you can withdraw real bitcoin to a private wallet. With an ETF you hold fund shares, and the manager holds the bitcoin for everyone in the fund. You cannot take the bitcoin out.
Do You Pay Tax On Crypto In Canada?
CRA generally treats cryptocurrency like a commodity, and gains are generally treated as capital gains or business income. A bitcoin ETF in a TFSA is not taxed on gains. Talk to an accountant about your case.
How Do I Buy A Bitcoin ETF In Canada?
Open a brokerage account such as Wealthsimple or Questrade, fund it, search the ticker and buy shares in a TFSA, RRSP or personal account.
Author
Oleg Galeev
Cryptocurrency Specialist
Oleg is a Canadian citizen & crypto expert who has been trading since 2016. He started out with Coinbase, Kraken and Peer-to-Peer exchanges. After some time, centralized exchanges started charging crazy fees to their users.
He decided to review different crypto exchanges that operate in Canada and start a Youtube channel in order to educate Canadians on what kinds of things are going inside each one while giving them unbiased advice. On top of that, Oleg also has experience with NFT, airdrops, and crypto staking and he is constantly checking on new crypto assets.
His writing has been featured in popular Canadian media sources such as Toronto Sun and Ottawa Citizen.
Discover Your Perfect Canadian Crypto Exchange!
Answered 0 of 10
Please assign a score to each question. This ensures we understand your priorities and can recommend the best crypto exchange for your needs.
