{"id":146446,"date":"2021-12-02T17:27:31","date_gmt":"2021-12-02T17:27:31","guid":{"rendered":"https:\/\/precoinnews.com\/?p=146446"},"modified":"2021-12-02T17:27:31","modified_gmt":"2021-12-02T17:27:31","slug":"fidelity-canada-officially-launches-bitcoin-etf-and-bitcoin-mutual-fund","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/fidelity-canada-officially-launches-bitcoin-etf-and-bitcoin-mutual-fund\/","title":{"rendered":"Fidelity Canada officially launches Bitcoin ETF and Bitcoin Mutual Fund"},"content":{"rendered":"

On Thursday, Fidelity Canada officially\u00a0launched the Fidelity Advantage Bitcoin exchange-traded fund (ETF) and the Fidelity Advantage Bitcoin ETF Fund (mutual fund), marking the first such assets to be made available in the country and confirming earlier reports on the matter. The funds have the tickers FBTC and FBTC.U, denominated in Canadian and United States dollars, and are listed on the Toronto Stock Exchange. Fidelity’s Bitcoin ETFs seek to track the performance of Bitcoin’s (BTC) spot price.\u00a0Fidelity currently manages CA$208 billion ($162.27 billion) in assets in the country.<\/p>\n

The ETFs will have an annual management fee of 0.4%. Operating expenses and trading costs are not yet available as the assets are still new. Over 98% of Bitcoin purchased by the funds is stored in cold wallets.<\/p>\n

The implications are significant for Canadian retail investors who open government-registered accounts, such as the Tax-Free Savings Account (TFSA), and purchase Bitcoin ETFs. As the name implies, securities held in a TFSA are exempt from capital gains tax liabilities.<\/p>\n

Related:\u00a0VanEck\u2019s Bitcoin spot ETF shunt solidifies SEC\u2019s outlook on crypto<\/em><\/strong><\/p>\n

Since 2009, the annual contribution limit for a TFSA has ranged from CA$5,000 ($3,903) to CA$10,000 ($7,807). Unused contributions from the previous years are carried forward, making them cumulative. In addition, all realized profits accrued in the TFSA are added back into the contribution room. Hypothetically, if an investor purchases $10,000 in a Bitcoin ETF and sells them for $20,000, then further capital appreciation from reinvesting the full $20,000, not $10,000, will be eligible for capital gains tax-exemption.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

On Thursday, Fidelity Canada officially\u00a0launched the Fidelity<\/p>\n","protected":false},"author":3,"featured_media":146445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nFidelity Canada officially launches Bitcoin ETF and Bitcoin Mutual Fund - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/fidelity-canada-officially-launches-bitcoin-etf-and-bitcoin-mutual-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fidelity Canada officially launches Bitcoin ETF and Bitcoin Mutual Fund - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"On Thursday, Fidelity Canada officially\u00a0launched the Fidelity\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/fidelity-canada-officially-launches-bitcoin-etf-and-bitcoin-mutual-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-02T17:27:31+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/12\/Fidelity-Canada-officially-launches-Bitcoin-ETF-and-Bitcoin-Mutual-Fund-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/fidelity-canada-officially-launches-bitcoin-etf-and-bitcoin-mutual-fund\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/fidelity-canada-officially-launches-bitcoin-etf-and-bitcoin-mutual-fund\/\",\"name\":\"Fidelity Canada officially launches Bitcoin ETF and Bitcoin Mutual Fund - 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