A new entrant has entered the Canadian Market on 9 March and resultantly Bitcoin ETF exchange-traded funds multiplied.

On Monday in a press release, Galaxy Digital Capital Management, a subsidiary of financial and services management company, said that the ETF would start trading this week.

ETF gets a major competitor

The launch will witness Galaxy joining the TSX Purpose. Bitcoin ETF is a prominent product in North America and USA regulators are yet to approve the same.

According to the CoinTelegraph report, since the ETF went live last month, around the same time Galaxy filed with the regulators.

Steve Kurz, Head of Asset Management at GDAM said that they believe the emerging digital asset class presents growth opportunities.

GBTC Negative Rebounds from Record

A recent survey by Goldman Sachs shows that 40% of clients are involved in Bitcoin exposure.

The rise of ETF is providing new competition for different market offerings.