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n0rt0narts
March 1, 2022
Question

Is the purchasing of a crypto ETF classified as purchasing cryptocurrency?

  • March 1, 2022
  • 1 reply
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    1 reply

    A
    Antomeister
    April 23, 2022

    According to the Canada Revenue Agency (CRA), an Exchange Traded Fund or ETF, trades on stock exchanges and have a value that is similar to the total value of the assets they contain. Meaning that a Cryptocurrency ETF is simply a fund that has a similar value to the price of Cryptocurrency. Therefore, you are not purchasing Cryptocurrency but shares in a fund. Had you directly received Crypto goods from a seller, that would be purchasing Cryptocurrency. For more information, check out: Canada Revenue Agency - Crypto Guide

     

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