Purpose Investments Inc. (“Purpose Investments” or “Purpose”) today announced the launch of the world’s first covered call and actively managed cryptocurrency ETFs: Purpose Bitcoin Yield ETF, Purpose Ether Yield ETF, and Purpose Crypto Opportunities ETF.
The Canadian-dollar-denominated ETF non-currency hedged units of the yield ETFs will begin trading on the Toronto Stock Exchange (“TSX”) today under the tickers: BTCY.B (Purpose Bitcoin Yield ETF) and ETHY.B (Purpose Ether Yield ETF). The ETF units, Canadian-dollar-denominated ETF non-currency hedged units, and U.S.-dollar-denominated ETF non-currency hedged units of Purpose Crypto Opportunities ETF will begin trading today under the tickers: CRYP, CRYP.B, and CRYP.U, respectively. These launches follow Purpose’s launch of Purpose Bitcoin ETF and Purpose Ether ETF, the world’s first Bitcoin ETF and Ether ETF, respectively, earlier in the 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 Bitcoin Yield ETF, the world’s first Bitcoin yield ETF, seeks to provide unitholders with monthly distributions and long-term capital appreciation. The fund will achieve its investment objectives primarily by obtaining exposure to Bitcoin and by implementing a derivatives-based strategy in respect of portfolio securities.
Purpose Ether Yield ETF, the world’s first Ether yield ETF, seeks to provide unitholders with monthly distributions and long-term capital appreciation. The fund will achieve its investment objectives primarily by obtaining exposure to Ether and implementing a derivatives-based strategy in respect of portfolio securities.
Purpose Crypto Opportunities ETF, the world’s first actively managed cryptocurrency ETF, seeks to provide unitholders with long-term capital appreciation by investing primarily in digital assets and securities that provide exposure to digital assets.
Purpose will act as manager of the cryptocurrency ETFs and portfolio manager for Purpose Bitcoin Yield ETF and Purpose Ether Yield ETF. Neuberger Berman Canada ULC (“Neuberger Berman”) will act as the investment subadvisor for Purpose Crypto Opportunities ETF.
“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 plans to launch additional ETF classes for Purpose Bitcoin Yield ETF and Purpose Ether Yield ETF later in the week. Mutual fund units will be available for all three ETFs on December 1.
Purpose Investments is one of the largest digital asset managers in the world, with a robust and innovative product suite including the first Bitcoin and Ether ETFs in the world. The Purpose Bitcoin ETF is available in four ETF series, including Canadian-dollar-denominated ETF currency hedged units (TSX: BTCC), Canadian-dollar-denominated ETF non-currency hedged units (TSX: BTCC.B), U.S.-dollar-denominated ETF units (TSX: BTCC.U), Canadian-dollar-denominated ETF non-currency hedged carbon offset units (a carbon-neutral purchase option) (TSX: BTCC.J), and mutual fund units. Likewise, the Purpose Ether ETF is available in mutual fund units and the same four ETF series, trading under the tickers: ETHH, ETHH.B, ETHH.U, and ETHH.J.
For more information about Purpose Bitcoin Yield ETF, please visit: www.purposeinvest.com/funds/purpose-bitcoin-yield-etf. For more information about Purpose Ether Yield ETF, please visit: www.purposeinvest.com/funds/purpose-ether-yield-etf. For more information about Purpose Crypto Opportunities ETF, please visit: www.purposeinvest.com/funds/purpose-crypto-opportunities-etf.
About Purpose Investments Inc.
Purpose Investments Inc. is an asset management company with more than $14 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company. For more information, please visit www.purposeinvest.com.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 25 countries, Neuberger Berman’s diverse team has over 2,400 professionals. For seven consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). In 2020, the Principles for Responsible Investment (PRI) named Neuberger Berman a Leader, a designation awarded to fewer than 1% of investment firms for excellence in Environmental, Social and Governance (ESG) practices. The PRI also awarded Neuberger Berman an A+ in every eligible category for its approach to ESG integration across asset classes. The firm manages $437 billion in client assets as of September 30, 2021. For more information, please visit website at www.nb.com.
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