Summary
- Canada’s Scotiabank was reported to have launched a multi-asset ETF that invests in major digital assets such as Bitcoin and Ethereum.
- The ETF is structured to diversify across multiple digital assets including Bitcoin, Ethereum, Solana and Ripple, and allows market access via a single product listed on a traditional stock exchange.
- The manager decided to cut the fee from 0.45% to 0.25% through March 1, 2027, and it was assessed as competitive on costs.
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Scotiabank, one of Canada’s major banks, is launching a multi-asset ETF that invests in major digital assets (cryptocurrencies) such as Bitcoin (BTC) and Ethereum (ETH).
According to a report by Cointelegraph on the 4th (local time), Dynamic Funds, Scotiabank’s asset-management subsidiary, launched the “Dynamic Active Multi Crypto ETF” in partnership with digital asset manager 3iQ. The product trades on Cboe Canada under the ticker “DXMC.”
The ETF is structured to diversify across multiple digital assets including Bitcoin, Ethereum, Solana (SOL) and Ripple (XRP). Investors can access the crypto market via a single product listed on a traditional stock exchange, without needing to buy or custody individual tokens directly.
Fee competitiveness was also highlighted. Bloomberg ETF analyst Eric Balchunas assessed the product as “highly competitive on costs.” The manager decided to cut the fee from 0.45% to 0.25% through March 1, 2027.
Canada is among the countries that introduced a framework for crypto ETFs relatively early. In 2021, 3iQ launched one of the world’s first spot Bitcoin funds in Canada, and the product quickly surpassed C$1 billion in assets under management.
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
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