Purpose Investments is an asset management company with $12B+ in AUM. Recently, it announces that mutual fund units will soon be available for its cryptocurrency ETFs.
Also, These will feature its Purpose Bitcoin ETF and Purpose Ether ETF. Which of course, will be directly have BTC and ETH back respectively.
Purpose Investments Mutual Fund Units
Furthermore, there are six mutual fund units available for both the Purpose Bitcoin and Ether ETFs. This is according to the GlobeNewswire’s news press release.
Notably, These features Class A and Class F units for each ETF. Which of course, is alongside their non-hedged variants and their non-hedged USD variants.
Additionally, one can buy or redeem Each new product at net asset value per unit of the asset relation (Bitcoin or Ether).
Also, This will be without any premiums or discounts. Which means, the offering “might otherwise be associated with a listed security.”
Currently, Som Self is CEO and Founder of Purpose Investments. Som says the addition of mutual fund units for his crypto funds was not beyond expectations.
“We’re happy to provide another easy and secure way for Canadian investors…”
“to gain exposure to Bitcoin and Ether in their portfolios…”
“Offering a mutual fund platform that allows investors to get exposure to Bitcoin and Ether…”
Som Self is CEO and Founder of Purpose Investments concludes,
“is a natural next step for us as we continue to establish our leadership and commitment to cryptocurrency as an emerging asset class.”
The Purpose Bitcoin ETF is the world’s first Bitcoin ETF as ay February of this year.
Also, it remains remains the largest in Canada to date. Consequentially, The government throws an open arm to more collaborations.