Best Bitcoin ETFs in Canada 2025: Complete Comparison Guide
Compare the best Bitcoin ETFs available to Canadian investors in 2025. Find the lowest fees, largest funds, and best options for your TFSA or RRSP.
Best Bitcoin ETFs for Canadian Investors in 2025
Canada pioneered spot Bitcoin ETFs in February 2021, giving Canadians access to regulated Bitcoin exposure years before US investors. Today, you have multiple options—here’s how to choose the best one for your portfolio.
Quick Recommendation
For most investors: Fidelity Advantage Bitcoin ETF (FBTC) or CI Galaxy Bitcoin ETF (BTCX-B)
Both offer:
- Low fees (0.39-0.40% MER)
- Direct spot Bitcoin exposure
- TFSA/RRSP eligibility
- Strong liquidity
- Reputable issuers
Complete Canadian Bitcoin ETF Comparison
| ETF | Ticker | MER | AUM | Custodian | Best For |
|---|---|---|---|---|---|
| Fidelity Advantage Bitcoin ETF | FBTC | 0.39% | $1.2B+ | Fidelity Digital Assets | Lowest fee |
| CI Galaxy Bitcoin ETF | BTCX-B | 0.40% | $800M+ | Galaxy Digital | Low fee, established |
| Evolve Bitcoin ETF | EBIT | 0.75% | $200M+ | Gemini | Mid-range option |
| Purpose Bitcoin ETF | BTCC-B | 1.00% | $2B+ | Gemini | Largest AUM, first to market |
| 3iQ CoinShares Bitcoin ETF | BTCQ | 1.00% | $150M+ | Gemini | Crypto-native manager |
#1: Fidelity Advantage Bitcoin ETF (FBTC)
Best for: Cost-conscious investors
| Metric | Details |
|---|---|
| Ticker | FBTC |
| MER | 0.39% |
| Exchange | TSX |
| Inception | December 2021 |
| Custodian | Fidelity Digital Assets |
| AUM | $1.2B+ |
Pros:
- Lowest MER among major Canadian Bitcoin ETFs
- Fidelity’s institutional reputation
- In-house custody through Fidelity Digital Assets
- Strong liquidity
Cons:
- Newer than some competitors
- Slightly lower AUM than Purpose
Why choose FBTC: If minimizing fees is your priority, FBTC offers the lowest ongoing cost with a trusted global brand behind it.
#2: CI Galaxy Bitcoin ETF (BTCX-B)
Best for: Balance of low fees and established track record
| Metric | Details |
|---|---|
| Ticker | BTCX-B |
| MER | 0.40% |
| Exchange | TSX |
| Inception | March 2021 |
| Custodian | Galaxy Digital |
| AUM | $800M+ |
Pros:
- Near-lowest fees
- Longer track record than FBTC
- Partnership with Galaxy Digital (crypto specialists)
- CI Global Asset Management reputation
Cons:
- Slightly higher fee than FBTC (0.01% difference)
- Galaxy Digital is less well-known than Fidelity
Why choose BTCX-B: If you want low fees with a longer operating history, BTCX-B offers excellent value.
#3: Purpose Bitcoin ETF (BTCC-B)
Best for: Investors who want the largest, most established fund
| Metric | Details |
|---|---|
| Ticker | BTCC-B |
| MER | 1.00% |
| Exchange | TSX |
| Inception | February 2021 |
| Custodian | Gemini |
| AUM | $2B+ |
Pros:
- World’s first spot Bitcoin ETF
- Largest AUM (most assets)
- Longest track record
- Multiple currency options (CAD hedged, USD)
Cons:
- Higher MER (1.00% vs 0.39%)
- Fee disadvantage compounds over time
Why choose BTCC: If you value being in the largest fund with the longest track record, and the fee difference doesn’t concern you.
#4: Evolve Bitcoin ETF (EBIT)
Best for: Mid-range fee option
| Metric | Details |
|---|---|
| Ticker | EBIT |
| MER | 0.75% |
| Exchange | TSX |
| Inception | February 2021 |
| Custodian | Gemini |
| AUM | $200M+ |
Pros:
- Lower fee than Purpose
- Established since early 2021
- Evolve ETF’s crypto expertise
Cons:
- Higher fee than FBTC/BTCX
- Smaller AUM
Why choose EBIT: If you want something between the lowest-cost and highest-AUM options.
Fee Impact Over Time
Here’s how the fee difference affects a $25,000 investment assuming 12% annual returns:
| ETF | MER | 5-Year Value | 10-Year Value | Fee Cost (10yr) |
|---|---|---|---|---|
| FBTC | 0.39% | $43,600 | $75,800 | ~$1,000 |
| BTCX-B | 0.40% | $43,550 | $75,600 | ~$1,000 |
| EBIT | 0.75% | $42,700 | $72,800 | ~$1,900 |
| BTCC-B | 1.00% | $42,100 | $70,900 | ~$2,500 |
The difference between the cheapest (FBTC) and most expensive (BTCC-B) is approximately $4,900 over 10 years on a $25,000 investment.
Which Account Type?
All Canadian Bitcoin ETFs are eligible for:
- TFSA - Tax-Free Savings Account (recommended)
- RRSP - Registered Retirement Savings Plan
- RESP - Registered Education Savings Plan
- RRIF - Registered Retirement Income Fund
- RDSP - Registered Disability Savings Plan
- Non-registered - Taxable accounts
Recommendation: Prioritize TFSA for Bitcoin ETFs since gains are completely tax-free.
Currency Options
Some ETFs offer multiple unit classes:
| ETF | CAD Units | CAD Hedged | USD Units |
|---|---|---|---|
| Purpose | BTCC.B | BTCC | BTCC.U |
| CI Galaxy | BTCX.B | - | BTCX.U |
| Evolve | EBIT | EBIT.U (hedged) | - |
| Fidelity | FBTC | - | FBTC.U |
Which to choose:
- Unhedged CAD (e.g., BTCC.B, FBTC): Most common, tracks Bitcoin + USD/CAD movements
- Hedged CAD: Removes currency fluctuation, but adds cost
- USD units: For USD-denominated accounts
For most Canadians, unhedged CAD units are appropriate.
Bitcoin Yield ETFs (Income-Focused)
If you want Bitcoin exposure plus income:
| ETF | Ticker | MER | Strategy | Yield |
|---|---|---|---|---|
| Purpose Bitcoin Yield ETF | BTCY | 1.10% | Covered calls | ~10-12% |
| Purpose Ether Yield ETF | ETHY | 1.10% | Covered calls | ~10-12% |
Trade-off: These generate monthly income but cap your upside potential when Bitcoin rallies sharply.
How to Buy Bitcoin ETFs in Canada
Step 1: Choose a Brokerage
| Brokerage | Commission | Best For |
|---|---|---|
| Wealthsimple Trade | Free | Beginners, low fees |
| Questrade | Free ETF buys | Self-directed investors |
| Interactive Brokers | Very low | Active traders |
| TD Direct Investing | ~$9.99/trade | Bank integration |
| RBC Direct Investing | ~$9.99/trade | Bank integration |
Step 2: Open/Fund Your Account
- TFSA recommended (check your contribution room on CRA My Account)
- Transfer funds via EFT or bill payment
Step 3: Buy the ETF
- Search for ticker (e.g., “FBTC” or “BTCX-B”)
- Enter number of shares
- Choose order type (market or limit)
- Review and submit
Step 4: Hold Long-Term
Bitcoin is volatile. Plan to hold through ups and downs rather than timing the market.
Common Questions
Should I buy US Bitcoin ETFs instead?
For registered accounts (TFSA/RRSP), stick with Canadian ETFs:
- No currency conversion fees
- Simpler tax reporting
- Trade during Canadian hours
US ETFs (like IBIT) have lower fees, but currency conversion costs typically exceed the MER savings.
How much should I invest?
Bitcoin is volatile—only invest what you can afford to lose. Common allocations:
- Conservative: 1-5% of portfolio
- Moderate: 5-10% of portfolio
- Aggressive: 10-20% of portfolio
Can I switch between ETFs?
Yes. In a TFSA:
- Sell current ETF shares (no tax impact)
- Buy new ETF shares
No capital gains tax within registered accounts.
Is one ETF safer than another?
All major Canadian Bitcoin ETFs hold actual Bitcoin with qualified custodians. The main differences are fees and fund size, not safety.
When should I buy?
Consider dollar-cost averaging—invest a fixed amount monthly regardless of price. This reduces the impact of volatility and removes emotion from timing decisions.
2025 Outlook
Factors that could affect Bitcoin ETFs in 2025:
- Institutional adoption continuing to grow
- Potential regulatory clarity
- Bitcoin halving effects (occurred April 2024)
- Competition may drive fees lower
Regardless of market conditions, the fundamentals of choosing an ETF remain:
- Low fees
- Reputable custodian
- Sufficient liquidity
- TFSA/RRSP eligibility
Summary: Our Top Picks for 2025
| Investor Type | Recommended ETF | Reason |
|---|---|---|
| Cost-conscious | FBTC | Lowest fee (0.39%) |
| Balanced approach | BTCX-B | Low fee + longer track record |
| Largest fund | BTCC-B | $2B+ AUM, most established |
| Income-focused | BTCY | Monthly distributions (~10-12% yield) |
For most Canadians: Start with FBTC or BTCX-B in your TFSA. The fee savings compound significantly over time, and both are well-managed funds with strong custodians.
The best Bitcoin ETF is one you’ll hold through volatility. Choose a low-fee option, invest consistently, and think long-term.
Disclaimer: This article is for educational purposes only and should not be considered financial or investment advice. Always do your own research and consult with a qualified financial advisor before making investment decisions.