Home News Canada’s first blockchain ETF receives official approval

Canada’s first blockchain ETF receives official approval

Keeping up with the growing trend for anticipating prospective benefits of the much promising blockchain technology, Canada-based exchange-traded fund (ETF) provider Harvest Portfolios has received approval by Ontario Securities Commission to launch Blockchain Technologies ETF – the country’s first blockchain fund.

With the ticker HBLK and a management fee of 0.65 percent, this newcomer to the stock market aims at replicating the performance of the Harvest Blockchain Technologies Index which was designed to track the performance of issuers in both the large-cap and emerging blockchain segments focusing on development and implementation of blockchain technologies in North America.

Next week will see the newly recognized ETF beginning to trade on the Toronto Stock Exchange.

Meanwhile, two other providers, namely, First Trust Portfolios Canada and Evolve Funds Group Inc. are on Harvest Portfolio’s heels having both filed preliminary prospectuses with regulators for blockchain funds of their own this week.

Whereas First Trust is up for launching the First Trust Indxx Innovative Transaction & Process ETF which will seek to replicate the performance of the Indxx blockchain Index, Evolve Funds envisages starting up Evolve blockchain ETF, positioning it as the country’s first actively-managed blockchain fund to be involved in research, development, utilization and supply of blockchain technology and related enterprises. If approved, these ETFs will receive BLCK and LINK tickers respectively.