Purpose Investments Files to List 3 More Crypto ETFs in Canada

The Canada-based asset manager also plans to launch a privately offered fund providing exposure to decentralized finance (DeFi).

Oct 20, 2021 at 12:10 p.m. UTC
Updated Oct 20, 2021 at 9:03 p.m. UTC

Purpose Investments has filed to list three more cryptocurrency exchange-traded funds (ETFs) with the Canadian securities regulators.

  • The proposals for the three actively managed funds – dubbed Purpose Crypto Opportunities ETF, Purpose Bitcoin Yield ETF and Purpose Ether Yield ETF – were announced on Wednesday following the launch of the asset manager’s bitcoin and ether ETFs earlier this year.
  • The Crypto Opportunities ETF aims to invest in companies with exposure to digital assets, akin to the ETF that Evolve Funds filed with the Ontario Securities Commission in August.
  • The Bitcoin Yield and Ether Yield ETFs meanwhile will aim to offer investors monthly yield by implementing a derivatives-based strategy and by obtaining either direct or indirect exposure to bitcoin and ether.
  • Purpose Investments will act as the manager for the two yield ETFs, while private investment manager Neuberger Berman Breton Hill ULC will serve as an independent subadvisor for the Crypto Opportunities fund.
  • The Canada-based asset manager also plans to launch a privately offered fund offering exposure to decentralized finance (DeFi).


DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Jamie Crawley is a CoinDesk news reporter based in London.