Coin Capital, a subsidiary of Canadian cryptocurrency platform Coinsquare, has listed two new technology-focused exchange-traded funds (ETF) on the Toronto Stock Exchange (TSX).
Coin Capital become the 30th ETF operator in Canada
Coin Capital Investment Management is the portfolio management subsidiary of Coinsquare, and the company became the 30th ETF operator in the country following this announcement.
Coin Capital launched the:
- Coincapital STOXX Blockchain Patents Innovation Index Fund (LDGR); and
- Coincapital STOXX B.R.AI.N. Index Fund (THNK).
A report by the Globe and Mail revealed that the LGDR ETF will offer investors an opportunity to invest in blockchain-related innovations with the help of alternative investment options, with low investment fees (0.64%).
The LGDR fund will make it possible for investors to now gain adequate exposure to worldwide equity securities of companies that have become heavily interested in the research and development of blockchain technology.
The report also stated that iSTOXX’s Yewno Development Markets Blockchain Index was the main reason behind the listing of the ETF, with its vast portfolio including stocks in Mastercard, Johnson Controls and the Royal Bank Of Canada.
THNK to focus on AI, Robotics, Biotech, and nanotech
The second ETF launched by the company, THNK is structured similarly to LDGR but will instead focus on technologies such as biotechnology, robotics, artificial intelligence, and nanotechnology.
The ETF will be made available to investors based on the iSTOXX Developed Markets B.R.AI.N. Index.
Coin Capital CEO Lewis Bateman, while commenting on this latest development, stated that investors in the country know that technologies like AI and blockchain have the potential to drastically change the way we currently live and work.
Intending to increase access to high-quality investments in these sectors without deep domain expertise, these ETFs will make these the sector more approachable without the much stress or requiring deep knowledge of the subject matter.
Blockchain ETFs becoming mainstream
Even though Bitcoin ETFs have continued to elude investors in the US, Blockchain ETFs are becoming a trend in neighboring Canada.
Earlier this year, Harvest Portfolios investment solutions provider set the trend and became the first company in Canada to launch a blockchain-based ETF (HBLK).
This made it possible to invest in securities that are focused on both large and small scale Blockchain firms, with the ETF being based on the company’s Harvest Blockchain Technologies Index.
Coinsquare recently listed XRP
The parent company Coinsquare last month listed XRP on its trading platform. The company listed the coin in a beta version and enabled traders to fund their accounts with XRP.
The platform also allowed users to buy and trade the cryptocurrency using fiat-to-crypto and crypto-to-crypto trading pairs, however, the ability to withdraw their XRP tokens to third-party wallets has not been activated yet.