Mutual fund units are now available for the world’s first Bitcoin and Ether ETFs backed by physically settled Bitcoin and Ether
Purpose Investments Inc. announced the launch of mutual fund units for its cryptocurrency funds: Purpose Bitcoin ETF and Purpose Ether ETF, the world’s first ETFs backed by physically settled Bitcoin and Ether, respectively.
The Purpose Bitcoin ETF and Purpose Ether ETF invest directly in physical Bitcoin and Ether, respectively, allowing investors easy and efficient access to the emerging cryptocurrency asset class without the associated risk of self-custody within a digital wallet. The Purpose Bitcoin ETF and the Purpose Ether ETF aim to accurately reflect the price of Bitcoin and Ether, respectively. Mutual fund units of the Purpose Bitcoin ETF and the Purpose Ether ETF may be purchased or redeemed at net asset value per unit of the applicable class without premiums or discounts, which might otherwise be associated with a listed security.
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“We’re happy to provide another easy and secure way for Canadian investors to gain exposure to Bitcoin and Ether in their portfolios,” said Som Seif, CEO and Founder of Purpose Investments. “Offering a mutual fund platform that allows investors to get exposure to Bitcoin and Ether is a natural next step for us as we continue to establish our leadership and commitment to cryptocurrency as an emerging asset class.”
Below is a list of the classes of mutual fund units of the Purpose Bitcoin ETF and Purpose Ether ETF that are now available for purchase and their corresponding fund codes:
| Fund Code | Mutual Fund Units |
| PFC6700 | Purpose Bitcoin ETF – Class A Units |
| PFC6701 | Purpose Bitcoin ETF – Class F Units |
| PFC6770 | Purpose Bitcoin ETF – Non-Hedged Class A Units |
| PFC6771 | Purpose Bitcoin ETF – Non-Hedged Class F Units |
| PFC6780 | Purpose Bitcoin ETF – Non-Hedged Class A USD Units |
| PFC6781 | Purpose Bitcoin ETF – Non-Hedged Class F USD Units |
| PFC6800 | Purpose Ether ETF – Class A Units |
| PFC6801 | Purpose Ether ETF – Class F Units |
| PFC6870 | Purpose Ether ETF – Non-Hedged Class A Units |
| PFC6871 | Purpose Ether ETF – Non-Hedged Class F Units |
| PFC6880 | Purpose Ether ETF – Non-Hedged Class A USD Units |
| PFC6881 | Purpose Ether ETF – Non-Hedged Class F USD Units |
Purpose Investments has a robust and continuously growing digital asset product suite. In addition to the mutual fund units, the Purpose Bitcoin ETF is available in three series, including Canadian dollar denominated ETF currency hedged units (TSX: BTCC), Canadian dollar denominated ETF non-currency hedged units and U.S. dollar denominated ETF non-currency hedged units. The Purpose Ether ETF is available in the same three series, trading under the tickers: ETHH, ETHH.B and ETHH.U.
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Purpose is committed to not only providing investors with access to digital assets, but also to educating investors. As a result, Purpose manages and regularly updates a cryptocurrency content hub that gives investors the knowledge and tools to understand this emerging asset class.
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