The company sent a prospectus and information form to the regulator for the launch of three actively managed exchange-traded funds (ETF) crypto-linked – Purpose Crypto Opportunities, Purpose Bitcoin Yield and Purpose Ether Yield.
Purpose Investments offers a wide range of investment products. Purpose Crypto Opportunities exchange-traded fund is focused on long-term capital growth. It offers clients indirect access to cryptoassets through regulated cryptocurrency-related securities and derivatives.
Exchange traded funds yield
Investors in Purpose Bitcoin Yield and Purpose Ether Yield funds will receive long-term income with monthly reallocation of assets. The funds will invest directly or indirectly in Bitcoin and Ethereum, and use an asset management strategy applied to derivatives.
Both ETFs are available in three Canadian ETF series: currency-hedged Canadian dollars, non-hedged Canadian dollars, and mutual funds.
О Purpose Investments
Purpose’s Bitcoin ETF was launched in February 2021 after receiving approval from the Canadian securities regulator. Two days after the launch, the ETF increased its assets under management to more than $ 400 million.
In April, Purpose launched the world’s first Ethereum ETF. At the time, US regulators were reluctant to change their stance on ETFs and only recently approved an application to launch an ETF linked to Bitcoin futures. This event pushed Bitcoin to new record highs: at the auction on October 20, the value of the coin exceeded $ 67,000.
The Canadian company Purpose Investments was founded in 2012. In March of this year, it became known that the total value of assets managed by this bitcoin ETF exceeded $ 1 billion. It is also the first registered exchange-traded fund in North America based on bitcoin.
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