Key Takeaways
- • Dynamic Funds, the asset-management subsidiary of Scotiabank, launched the Dynamic Active Multi Crypto ETF (ticker DXMC) in partnership with digital asset manager 3iQ, trading on Cboe Canada, according to a Cointelegraph report.
- • The ETF provides diversified exposure to Bitcoin, Ethereum, Solana and Ripple (XRP) through a single exchange-listed product, removing the need for investors to buy or custody tokens directly.
- • The manager cut the fee from 0.45% to 0.25%, effective through March 1, 2027; Bloomberg ETF analyst Eric Balchunas described the product as "highly competitive on costs."
- • 3iQ launched one of the world's first spot Bitcoin funds in Canada in 2021, which quickly surpassed C$1 billion in assets under management, positioning Canada as an early adopter of crypto ETF frameworks.
Summary
Scotiabank, one of Canada's major banks, has launched a multi-asset cryptocurrency exchange-traded fund that invests in major digital assets. According to a report by Cointelegraph, Dynamic Funds, Scotiabank's asset-management subsidiary, launched the Dynamic Active Multi Crypto ETF in partnership with digital asset manager 3iQ. The product trades on Cboe Canada under the ticker DXMC.
The fund is structured to diversify across multiple digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Ripple (XRP). Investors can gain exposure to the crypto market through a single product listed on a traditional stock exchange, without needing to buy or custody individual tokens directly.
Fee competitiveness was a highlighted feature of the launch. Bloomberg ETF analyst Eric Balchunas assessed the product as "highly competitive on costs." The manager has decided to reduce the management fee from 0.45% to 0.25% through March 1, 2027.
The launch comes in a market where Canada was among the first countries to establish a framework for crypto ETFs. In 2021, 3iQ launched one of the world's first spot Bitcoin funds in Canada, which quickly surpassed C$1 billion in assets under management. The new multi-crypto product extends that early experience into a diversified offering.
The fund is structured to diversify across multiple digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Ripple (XRP). Investors can gain exposure to the crypto market through a single product listed on a traditional stock exchange, without needing to buy or custody individual tokens directly.
Fee competitiveness was a highlighted feature of the launch. Bloomberg ETF analyst Eric Balchunas assessed the product as "highly competitive on costs." The manager has decided to reduce the management fee from 0.45% to 0.25% through March 1, 2027.
The launch comes in a market where Canada was among the first countries to establish a framework for crypto ETFs. In 2021, 3iQ launched one of the world's first spot Bitcoin funds in Canada, which quickly surpassed C$1 billion in assets under management. The new multi-crypto product extends that early experience into a diversified offering.
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