Purpose Investments Inc. has announced the introduction of Purpose Bitcoin Yield ETF, Purpose Ether Yield ETF, and Purpose Crypto Opportunities ETF, the world’s first covered call and actively managed cryptocurrency ETFs.
The yield ETFs’ non-currency hedged units in Canadian dollars will begin trading on the Toronto Stock Exchange (“TSX”) today under the tickers BTCY.B (Purpose Bitcoin Yield ETF) and ETHY.B (Equity Bitcoin Yield ETF) (Purpose Ether Yield ETF). Purpose Crypto Opportunities ETF’s ETF units, Canadian-dollar-denominated ETF non-currency hedged units, and US-dollar-denominated ETF non-currency hedged units will start trading today under the tickers CRYP, CRYP.B, and CRYP.U, respectively. Purpose’s Purpose Bitcoin ETF and Purpose Ether ETF, the world’s first Bitcoin ETF and Ether ETF, respectively, were launched earlier this year.
“We’re very excited to once again be a global leader in delivering high-quality new crypto solutions to investors by launching three new actively managed and option strategy yield cryptocurrency ETFs,” says Som Seif, Founder and CEO at Purpose Investments. “With these ETFs, we aim to expand the ways investors can access crypto markets and generate the unique returns available in this emerging asset class. These products will complement our existing Bitcoin and Ether ETFs and provide a different form of return-and-risk profiles for investors.”
Purpose The Bitcoin Yield ETF, the world’s first Bitcoin yield ETF, aims to deliver monthly payments as well as long-term capital appreciation to unitholders. The fund’s investment goals will be met largely via getting Bitcoin exposure and employing a derivatives-based approach in relation to portfolio assets.
Purpose The Ether Yield ETF, the world’s first Ether yield ETF, aims to deliver monthly payments as well as long-term capital appreciation to unitholders. The fund’s investment goals will be met largely via gaining Ether exposure and employing a derivatives-based approach in relation to portfolio securities.
Purpose Crypto Opportunities ETF, the world’s first actively managed cryptocurrency ETF, invests primarily in digital assets and securities that give exposure to digital assets in order to promote long-term financial growth to unitholders.
Purpose will manage the cryptocurrency ETFs as well as the portfolios for the Purpose Bitcoin Yield ETF and Purpose Ether Yield ETF. Purpose Crypto Opportunities ETF’s investment subadvisor will be Neuberger Berman Canada ULC.
“Purpose is a strong partner of Neuberger Berman in Canada, and we are excited to be working together to launch the first actively managed crypto ETF in the world,” says Frank Maeba, Managing Director at Neuberger Berman. “We look forward to providing investors access to a differentiated opportunity set while also managing downside risks in this new asset class.”
Purpose Investments aims to expand the Purpose Bitcoin Yield ETF and Purpose Ether Yield ETF ETF classes later this week. On December 1, mutual fund units will be available for all three ETFs.
Purpose Investments is one of the world’s leading digital asset managers, with a sophisticated and creative product portfolio that includes the world’s first Bitcoin and Ether exchange-traded funds (ETFs). The Purpose Bitcoin ETF is available in four ETF series: Canadian-dollar-denominated ETF currency hedged units , Canadian-dollar-denominated ETF non-currency hedged units , U.S.-dollar-denominated ETF non-currency hedged units , Canadian-dollar-denominated ETF non-currency hedged The Purpose Ether ETF, which trades under the tickers ETHH, ETHH.B, ETHH.U, and ETHH.J, is also available in mutual fund units and the same four ETF series.
About Purpose Investments Inc.
Purpose Investments Inc. is a financial services firm that manages over $14 billion in assets. Purpose Investments offers a variety of managed and quantitative investing solutions, with an unwavering focus on client-centric innovation. Purpose Investments is a branch of Purpose Financial, an independent technology-driven financial services firm established by well-known entrepreneur Som Seif.
About Neuberger Berman
Neuberger Berman is a private, independent, employee-owned investment company that was created in 1939. On behalf of institutions, advisers, and individual investors across the world, the business manages a variety of strategies, including equities, fixed income, quantitative and multi-asset class, private equity, real estate, and hedge funds. Neuberger Berman’s varied workforce of nearly 2,400 employees is spread across 25 offices in 25 countries. The organisation has been named first or second in the Pensions & Investments Best Places to Work in Money Management poll for the past seven years (among those with 1,000 employees or more). Neuberger Berman was selected a Leader by the Principles for Responsible Investment (PRI) in 2020, a title given to fewer than 1% of investment companies for excellence in Environmental, Social, and Governance (ESG) activities. Neuberger Berman received an A+ in every area for its efforts to ESG integration across asset classes, according to the PRI. As of September 30, 2021, the business manages $437 billion in customer assets.