Fiona Collie
Canada’s wealth management fintech space, like a gangling teenager, has undergone a noticeable change in recent years.
Since the launch of robo-advisors in Canada more than five years ago, the fintech space has grown as companies have found their niches either in the B2B or B2C market and hired employees with skills and knowledge of the investment industry.
“I think the bench strength of these companies has improved,” said Rob Baldassare, senior advisor, fintech, with MaRS Discovery District in Toronto. He said fintechs have benefited from both organic growth and hiring employees with experience in financial services institutions.
Article content
TORONTO, April 16, 2021 (GLOBE NEWSWIRE) Purpose Investments Inc. (“Purpose Investments” or “the Company”) is pleased to announce that it has been cleared by Canadian securities regulators to launch the Purpose Ether ETF (the “ETF”), the first direct custody Ether ETF in the world. The ETF is designed to provide investors with exposure to the popular cryptocurrency, Ether, by investing directly in physically settled Ether tokens. The ETF will offer three classes of units: Canadian dollar currency hedged units (ETHH), Canadian dollar non-currency hedged units (ETHH.B) and US dollar units with ticker nits (ETHH.U).
“While Bitcoin tends to get a lot of attention as it was the first major cryptocurrency, what Ether and the Ethereum ecosystem represent is one of the most exciting new technology visions today in society,” said Som Seif, founder and CEO of Purpose Investments. “By launching the first ETF in the world that directly owns and provides expo
The Globe and Mail Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer
Canadian asset managers are racing to launch the world’s first cryptocurrency exchange-traded fund that tracks the price performance of Ether, after regulators approved multiple investment funds.
On Friday, Purpose Investments Inc., Evolve Funds, and CI Global Asset Management were all cleared by the Ontario Securities Commission (OSC) to launch investment funds that will be the first set of ETFs in the world to invest directly in the digital asset Ether, currently the world’s second-largest cryptocurrency by market capitalization behind Bitcoin.
The Globe and Mail Paul Brent Published April 13, 2021 Bookmark
It has been long-held advice in the investing world that if you don’t understand something, it’s best not to put money into it.
That advice looks to have gone by the wayside when it comes to the gold-rush atmosphere among retail investors for the new and growing crop of bitcoin exchange-traded funds.
The first bitcoin ETF out of the gate, Purpose Financial LP’s Purpose Bitcoin fund (BTCC), has proven wildly popular with investors despite its relatively high management fee of 1 per cent. After less than two months, it already has more than $1.22-billion in assets under management. By comparison, Evolve Fund Group’s Bitcoin ETF (EBIT), launched one day later, has accumulated less than a tenth the assets of the Purpose ETF, despite cutting its management fee shortly after launch to 0.75 per cent..
Gordon Pape: My High-Yield Portfolio continues to gain big, but it s time to boost cash flow theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.