Purpose Investments applies for 3 more crypto ETFs
Asset management company ‘Purpose Investments’ announced on the 20th that it has submitted applications for three types of crypto-related exchange-traded funds (ETFs)
The company has already started offering its Bitcoin ETF and Ethereum ETF this year in Canada. The ETFs filed this time would also be actively managed funds dubbed as Purpose Crypto Opportunities ETF, Purpose Bitcoin Yield ETF, and Purpose Ether Yield ETF.
In addition to Bitcoin and Ethereum ETFs, Purpose offers several financial products such as stock and bond funds, and has assets under management over $ 12 billion.
As per the filing, The “Purpose Bitcoin Yield ETF” and “Purpose Ether Yield ETF” would provide investors with long-term gains and monthly dividends, primarily by investing directly or indirectly in Bitcoin and Ethereum.
Moreover, the Purpose Crypto Opportunities ETF will aim to earn long-term gains on price increases by investing in companies that mainly handle digital assets. It will also invest in listed securities and derivative products that handle digital assets including Bitcoin and Ethereum.
Vlad Tasevski, COO and Head of Product at Purpose Investments, noted:
“We have been focused on democratizing access to cryptocurrency investing so that everyone can benefit from the potential of this emerging asset class.
We will continue to take on a leadership role and ensure we’re providing investors with the highest quality and most practical solutions they need.”
Additionally, the company has announced plans to launch a fund called “Purpose DeFi Opportunities Fund” offering exposure in DeFi. Details of the new fund were not revealed in the announcement.
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow