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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).
Updated May 11, 2023, 4:06 p.m. Published Oct 20, 2021, 9:03 p.m.
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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).
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Read more: Ark Investment Management Opens Door for Fund to Invest in Canadian Crypto ETFs
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The bank of the future: 77% of stablecoin users say they’d open a wallet with their bank today
YouGov survey published by Coinbase and BVNK also found that 71% of users would use a stablecoin-linked debit card as a means of spending them.
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- Some 77% of the survey's 4,658 respondents said they would open a cryptocurrency or stablecoin wallet within their banking or fintech app if one were available.
- A survey commissioned by crypto exchange Coinbase and stablecoin infrastructure provider BVNK also found that 71% of users would use a stablecoin-linked debit card to spend the fiat-linked tokens.
- Stablecoin users on average hold 35% of their annual earnings in such tokens, and 73% of freelancers and contractors reported an improvement in their ability to work with international clients thanks to stablecoins.
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