Canadian Regulators Approve 2nd Bitcoin ETF
Another Bitcoin ETF has been approved by Canadian regulators to be listed on the Toronto Stonk Exchange!
Great news all around for the cryptocurrency space and for Canadian investors hoping to retire early.
The Power of the TFSA
We Canadians have this beautiful thing called a TFSA. It's called a saving account but really it's a tax free trading account! There's a max contribution limit each year, for 2021 it's 6,000 CAD.
But we pay NO TAX on any capital gains made within the account. There are some exceptions if we are trading American securities but from securities from the TSX we are good to go.
2nd Bitcoin ETF to be approved for the TSX
We now have not one but two Bitcoin ETF's on their way shortly so Canadians that don't want to play directly with crypto can still get in on the FOMO.
The Evolve Bitcoin ETF
The Evolve Bitcoin ETF seeks to provide investors with exposure to the daily price movements of the US dollar price of bitcoin. Crypto enthusiasts see an exchange-traded fund as a way for more retail investors to gain price exposure to bitcoin. An ETF trades on the stock market, and investors won't need to set up a crypto wallet to invest.
I am pumped to have ETF's as an option for myself, and for friends who are and will be building part of their retirement savings through a TFSA.
No capital gains tax on Bitcoin, fuck yes! Some of us are going to be able to retire early and not have to worry as much about hiding crypto and digital money from the feds.
SEC You're Next!
Our friends to the south seem to be having some issues with the SEC approving a US based Bitcoin ETF, what's the hold up?
I guess the good news is that down the road there will be more good news! When the 1st US based Bitcoin ETF is approved I'm pretty sure there will be a nice boost in the markets.
Ciao for now,
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