Purpose Investments Inc ., headquartered in Toronto, introduced its Bitcoin ETF on the Toronto Stock Exchange in early 2021, imposing a 1% management fee— four times higher than BlackRock Inc. 's comparable fund, approved in January. CoinShares data indicates that while the BlackRock Bitcoin Trust has attracted over $12 billion in inflows since the beginning of the year, Purpose Investments has experienced $369 million in outflows.