- Purpose Investments has filed a preliminary prospectus for its Crypto Opportunities, Bitcoin Yield and Ether Yield ETFs
- The Purpose Crypto Opportunities ETF will invest primarily in publicly listed securities and derivative instruments
- The Purpose Bitcoin Yield ETF will provide monthly distributions through derivatives and Bitcoin exposure
- The Purpose Ether Yield ETF will provide monthly distributions through derivatives and Ether exposure
- The company is also launching its DeFi Opportunities Fund as a private vehicle
- Purpose Investments is an asset management company with more than C$12 billion under management
- The Purpose Bitcoin ETF (BTCC) is up by 0.34 per cent and is currently trading at $11.83 per share
Purpose Investments has filed a preliminary prospectus for its Crypto Opportunities, Bitcoin Yield and Ether Yield ETFs.
The Purpose Crypto Opportunities ETF seeks to provide long-term capital appreciation by investing primarily in securities that provide exposure to digital assets. The fund will invest primarily in publicly listed securities, including investment funds, as well as derivative instruments.
The Purpose Bitcoin Yield ETF seeks to provide monthly distributions and long-term capital appreciation. The fund will focus on direct and/or indirect exposure to Bitcoin coupled with a derivatives-based strategy in respect of portfolio securities.
The Purpose Ether Yield ETF seeks to provide monthly distributions and long-term capital appreciation. The fund will meet its objectives through direct and/or indirect exposure to Ether combined with a derivatives-based strategy in respect of portfolio securities.
Purpose will act as manager of its cryptocurrency ETFs and portfolio manager for the Bitcoin Yield and Ether Yield ETFs. Neuberger Berman Breton Hill will act as investment subadvisor for the Crypto Opportunities ETF.
The asset manager will also be launching the Purpose DeFi Opportunities Fund as a private fund focused on providing exposure to opportunities in decentralized finance.
The filing follows Purpose’s launch of the world’s first Bitcoin and Ether ETFs earlier this year.
Vlad Tasevski, Purpose’s COO and Head of Product, stated,
“We see a lot of potential value in an active management approach to cryptocurrency investments, and we’re excited to take the first step globally to provide access to investors through public ETF vehicles.
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.”
Greg Taylor, Purpose’s CIO, added,
“The cryptocurrency markets are known for their volatility. We filed to launch these actively managed cryptocurrency ETFs to help investors benefit from active management by seasoned investment professionals who will be well-positioned to generate income and manage risk and the volatility for investors.”
Purpose Investments is an asset management company with more than C$12 billion under management.
The Purpose Bitcoin ETF (BTCC) is up by 0.34 per cent and is currently trading at $11.83 per share as of 9:31 am ET.