Can I Buy ARK 21Shares Bitcoin ETF Shares in Canada?

The ARK 21Shares Bitcoin ETF has been rejected by the US Securities and Exchange Commission (SEC), so the fund is no longer going to be publicly offered. Here’s what we know about the ETF and how to invest in other cryptocurrency-related securities.

Note: All dollar amounts on this page are in US dollars unless otherwise stated.

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What we know about the ARK 21Shares Bitcoin ETF

On June 28, 2021, 21Shares US LLC submitted a registration filing with the US Securities and Exchange Commission (SEC) to create the ARK 21Shares Bitcoin ETF under the ticker symbol “ARKB.”

The ARK 21Shares Bitcoin ETF was unique, because it would actually hold Bitcoin as opposed to other cyrptocurrency-focused ETFs like the Valkyrie Bitcoin Strategy ETF that indirectly invest in Bitcoin via futures contracts.

Coinbase Custody Trust Company would hold the fund’s Bitcoin investments in trust, while ARK Investment Management LLC (headed up by Cathie Wood) would provide marketing assistance.

On March 31, 2022, the SEC released a rejection order, effectively preventing the ETF from being publicly traded on the basis that there were not sufficient measures in place to “prevent fraudulent and manipulative acts and
practices” and “to protect investors and the public interest.”

ARK similarly filed to create a Bitcoin futures ETF, but plans to take the fund public have been similarly squashed by the SEC’s decision.

For now, it seems, the SEC is not willing to open the door to allow crypto to be traded like regular stocks and ETFs.

Buy stocks in similar funds

Even though you won’t be able to buy into the ARK 21Shares Bitcoin ETF, you can still invest in other ETFs that track the value of crypto assets.

Company	Stock info
Purpose Bitcoin ETF	TSX: BTCC
ProShares Bitcoin Strategy ETF	NYSEArca: BITO
Grayscale Bitcoin Trust (BTC)	OTC Markets: GBTC
Grayscale Ethereum Trust (ETH)	OTC Markets: ETHE
Bitwise 10 Crypto Index Fund	OTC Markets: BITW
Global X Blockchain & Bitcoin Strategy ETF	Nasdaq Global Market: BITS

How to buy stocks in a company

You’ll need a brokerage account to buy and sell shares. Here’s how it works:

Compare share trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio.
Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
Search for the company you want to invest in. Find the stock by name or ticker symbol (for example, BTCC). Research its history to confirm it’s a solid investment against your financial goals.
Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until the stock reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market’s ups and downs. You may be able to buy fractional shares of companies, depending on your broker.
Check in on your investment. Congratulations, you own part of a company! Optimize your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

Tax implications of buying US stocks in Canada

Agreements between Canada and the US require Canadians holding US stock investments to pay the US Internal Revenue Service (IRS) a 15% withholding tax on any dividends earned on their US stocks. Interest earned from bonds or other interest-yielding US investments are similarly taxed at a rate of 10%.

An exception is made for stock investments held in trust exclusively designed to provide retirement income. Such trusts include RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs are also exempt from US withholding tax if you own US investments in the form of US stocks, bonds or ETFs.

Investment accounts that do not qualify for this exemption include RESPs, TFSAs and RDSPs.

All income from investments, including foreign investments, must be declared as part of your income on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you’ll be double taxed on those earnings — first by the IRS, then by the CRA. However, the CRA may allow you to claim foreign tax credits for any taxes you’ve already paid to the IRS.

Speak with a tax professional to find out what rules and exceptions apply to your circumstances.

Open a stock trading account

You can compare features of stock trading platforms in the table below. Once you’ve decided on the right fit for your needs, click the “Go to site” button to get started.

Note: The dollar amounts in this table are in Canadian dollars.

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Product	Finder Score	Available Asset Types	Account Types	Stock Trading Fee	Account Fee	Offer
Interactive Brokers	Finder Score 8.8 Great	Stocks, Bonds, Options, Index Funds, ETFs, Forex, Currencies, Futures	RRSP, TFSA, Personal, Joint	min $1.00, max 0.5%	$0		Go to site View details Compare	loading Fetching your data...
CIBC Investor's Edge	Finder Score 7.6 Great	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, Precious Metals, IPOs	RRSP, RESP, RRIF, TFSA, Personal, Joint, FHSA	$6.95	$0 if conditions met, or $100	Get 100 free trades when you open a CIBC Investor’s Edge account using promo code EDGE2425. Plus, get $200 or more cash back. Valid until March 31, 2025.	Go to site View details Compare	loading Fetching your data...
Moomoo Financial Canada	Finder Score 7.4 Great	Stocks, Options, ETFs	RRSP, TFSA, Personal, FHSA	$0.0149/stock	$0	Enjoy a 6% cash rebate plus up to $4,600 in trading perks. Offer ends March 31, 2025	Go to site View details Compare	loading Fetching your data...
RBC Direct Investing	Finder Score 7.9 Great	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, Precious Metals, IPOs	RRSP, RESP, RRIF, TFSA, Personal, Joint, Business, FHSA	$6.95 - $9.95	$0 if conditions met, otherwise $25/quarter	Get a $300 cash bonus and up to 500,000 Avion points when you open your first eligible RBC Direct Investing account. Plus, get 50 commission-free trades to use within one year of account opening. Conditions apply. Offer ends March 31, 2025	Go to site View details Compare	loading Fetching your data...
Questrade	Finder Score 8.8 Great	Stocks, Bonds, Options, Mutual Funds, ETFs, Forex, GICs, Precious Metals, IPOs	RRSP, RESP, RRIF, TFSA, Personal, FHSA	$0	$0	Get $50 cash back when you open a self-directed account and fund it with at least $250. Use code FINDER50.	Go to site View details Compare	loading Fetching your data...
Qtrade Direct Investing	Finder Score 7.7 Great	Stocks, Bonds, Options, Mutual Funds, ETFs, GICs	RRSP, RESP, RRIF, TFSA, Personal, Joint, FHSA	$6.95 - $8.75	$0 if conditions met, otherwise $25/quarter	Get 1% cashback or more, a $150 sign-up bonus & unlimited free trades until April 30th, 2025.	Go to site View details Compare	loading Fetching your data...

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Finder Score for stock trading platforms

To make comparing even easier we came up with the Finder Score. Trading costs, account fees and features across 10+ stock trading platforms and apps are all weighted and scaled to produce a score out of 10. The higher the score the better the platform - simple.

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Important information: Powered by Finder.com. This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider the Product Disclosure Statement and Target Market Determination for the product on the provider's website. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.

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Can I buy ARK 21Shares Bitcoin ETF shares?

Plans to take the ARK 21Shares Bitcoin ETF public have been cancelled. But you can invest in other crypto-related funds.