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Investment Firm Ninepoint Proposes Switching Bitcoin ETF Strategy After Falling 45% in a Year

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Canada's Ninepoint is proposing changing its bitcoin ETF fund's strategy to diversify into investing in equities related to Web3 and blockchain technology. by Aoyon_A

. It previously aimed to provide investors exposure to bitcoin, without having to buy the digital asset through a crypto exchange.

The ETF is up about 41% this year but has fallen roughly 45% in the last 12 months and is down 15% since inception, the website said. Another Canadian bitcoin fund, Purpose Bitcoin ETF (

 

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