With bitcoin down about 50 per cent from its highs last fall, now might not seem an opportune time to launch a cryptocurrency product.

But on June 30, digital brokerage Webull Canada announced it would offer cryptocurrency trading after receiving approval from the Canadian Investment Regulatory Organization. One day later, U.S. brokerage Robinhood Markets Inc., which recently completed the purchase of cryptocurrency platform WonderFi, officially launched its popular trading app in Canada with a focus on…