Purpose Investments has filed to checklist three additional cryptocurrency exchange-traded funds 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 – was announced on Wednesday following the launch of the asset supervisor’s bitcoin and ether ETFs earlier this yr.
- The Crypto Opportunities ETF goals to make investments in corporations with publicity to digital belongings, akin to that filed by Evolve Funds with the Ontario Securities Commission in August.
- The Bitcoin Yield and Ether Yield ETFs in the meantime will goal to provide traders month-to-month yield by implementing a derivatives-based technique and by acquiring both direct or oblique publicity to bitcoin and ether.
- Purpose Investments will act because the supervisor for the 2 yield ETFs, whereas non-public funding supervisor Neuberger Berman Breton Hill ULC will function an impartial subadvisor for the Crypto Opportunities fund.
- The Canada-based asset supervisor additionally plans to launch a privately-offered fund providing publicity to decentralized finance (DeFi).
Read extra: Ark Investment Management Opens Door for Fund to Invest in Canadian Crypto ETFs