Purpose Investments Inc. (“Purpose Investments” or “Purpose”) today announced the launch of mutual fund units for its cryptocurrency funds: Purpose Bitcoin ETF and Purpose Ether ETF, the world’s first ETFs backed by physically settled Bitcoin and Ether, respectively.
The Purpose Bitcoin ETF and Purpose Ether ETF invest directly in physical Bitcoin and Ether, respectively, allowing investors easy and efficient access to the emerging cryptocurrency asset class without the associated risk of self-custody within a digital wallet. The Purpose Bitcoin ETF and the Purpose Ether ETF aim to accurately reflect the price of Bitcoin and Ether, respectively. Mutual fund units of the Purpose Bitcoin ETF and the Purpose Ether ETF may be purchased or redeemed at net asset value per unit of the applicable class without premiums or discounts, which might otherwise be associated with a listed security.
“We’re happy to provide another easy and secure way for Canadian investors to gain exposure to Bitcoin and Ether in their portfolios,” said Som Seif, CEO and Founder of Purpose Investments. “Offering a mutual fund platform that allows investors to get exposure to Bitcoin and Ether is a natural next step for us as we continue to establish our leadership and commitment to cryptocurrency as an emerging asset class.”
Below is a list of the classes of mutual fund units of the Purpose Bitcoin ETF and Purpose Ether ETF that are now available for purchase and their corresponding fund codes:
Purpose Investments has a robust and continuously growing digital asset product suite. In addition to the mutual fund units, the Purpose Bitcoin ETF is available in three series, including Canadian dollar denominated ETF currency hedged units (TSX: BTCC), Canadian dollar denominated ETF non-currency hedged units (TSX: BTCC.B) and U.S. dollar denominated ETF non-currency hedged units (TSX: BTCC.U). The Purpose Ether ETF is available in the same three series, trading under the tickers: ETHH, ETHH.B and ETHH.U.
Purpose is committed to not only providing investors with access to digital assets, but also to educating investors. As a result, Purpose manages and regularly updates a cryptocurrency content hub that gives investors the knowledge and tools to understand this emerging asset class. To learn more about the Purpose Bitcoin ETF, please visit: https://www.purposeinvest.com/funds/purpose-bitcoin-etf. To learn more about the Purpose Ether ETF, please visit: https://www.purposeinvest.com/funds/purpose-ether-etf.
About Purpose Investments Inc.
Purpose Investments Inc. is an asset management company with more than $12 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.
For further information please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value.
