Canada Marks Launch Of First Bitcoin, Ethereum ETFs With Monthly Payouts

ETFs have been trading in the United States, Canada, and some other countries for a while now. These ETFs have made strides so far with high volumes traded in throughout their existence in the market. However, none of these ETFs have offered mostly dividends to their investors. An asset management firm in Canada has now made history as the first to offer a monthly yield to those invested in its ETF. Edging Towards The Future Purpose Investment has first made headlines in February when it created the first North American ETF that tracks the price of Bitcoin. This time around, the investment firm has made another stride in becoming the first to launch an ETF that pays monthly yields to investment. This puts Canada at the front of the race when it comes to crypto ETFs and the purposes which they serve. Related Reading | Market Analysts Explain Why This Correction Is Good For Bitcoin The Bitcoin and Ethereum ETF will offer investors monthly yields using a derivatives-based covered call strategy. Like the ETFs, the strategy is another first of its kind in the crypto market. The annual yield of the ETFs is also attractive according to estimates. Market experts explained that although there is no way to guarantee what the amount would be each month, it is expected to be the equivalent of 8% to 10% annual yield, with 1.10% going to the firm as a management fee. BTC trending south of $57K | Source: BTCUSD on TradingView.com C...