Scotiabank’s asset management arm Dynamic Funds has launched a new actively managed cryptocurrency exchange-traded fund in partnership with digital asset manager 3iQ.
The Dynamic Active Multi-Crypto ETF will trade on Cboe Canada under the ticker DXMC and provides exposure to Bitcoin, Ether, Solana and XRP through a single regulated investment product.
Bloomberg ETF analyst Eric Balchunas said the launch was “highly competitive” from a fee perspective after Dynamic cut the management fee from 0.45% to 0.25% until March 1, 2027.
Multi-asset crypto ETFs allow investors to gain exposure to a basket of digital assets without buying and storing tokens directly on cryptocurrency exchanges.
Canada has been an early leader in crypto ETFs, with 3iQ launching one of the world’s first publicly traded spot Bitcoin funds in 2021.
That fund surpassed 1 billion Canadian dollars in assets under management shortly after launch, demonstrating strong investor demand for regulated digital asset products.
3iQ was recently acquired by Japanese cryptocurrency exchange Coincheck in a deal valued at $111.84 million, which is expected to close in the second quarter of this year.
At the time of reporting, Bitcoin price was $72,671.55.