Canada's Scotiabank launches multi-crypto ETF with 3iQ
Scotiabank, one of Canadas top-five banks by assets, has launched a new cryptocurrency exchange-traded fund in partnership with digital asset manager 3iQ, highlighting growing institutional adoption in a market that approved spot Bitcoin ETFs years before the United States. Dynamic Funds, Scotiabanks asset management arm, unveiled the Dynamic Active Multi-Crypto ETF on Wednesday. The liquid alternative fund will trade on Cboe Canada under the ticker DXMC, offering investors exposure to several digital assets, including Bitcoin (BTC), Ether ($ETH), Solana (SOL) and $XRP ($XRP). Bloomberg ETF analyst Eric Balchunas described the launch as highly competitive from a fee perspective. Dynamic said it reduced the fee from 0.45% to 0.25% until March 1, 2027. Source: Eric Balchunas on X Multi-asset crypto ETFs are gaining popularity because they offer investors exposure to a basket of digital assets within a single fund. Instead of buying and storing tokens individually on cryptocurrency exchanges, investors can access multiple assets through a single regulated product traded on a traditional stock exchange. Canadas early lead in crypto ETFs While ETFs have dominated the conversation in the United States, especially after regulators approved nearly a dozen spot Bitcoin ETFs in early 2024, Canada was actually an early mover in the asset class, with companies like
