Purpose launches mutual funds for crypto ETFs – Wealth Professional

Investment firm offers mutual fund units for world-leading bitcoin and ether ETFs

Purpose Investments is offering more options for investors to gain exposure to its cryptocurrency ETFs with the launch of a new suite of mutual fund series.

“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.

The Purpose Bitcoin ETF and Purpose Ether ETF provide investors with easy and efficient access to their namesake cryptocurrencies by investing directly in physical bitcoin and ether, making them an ideal product for investors who want easy and efficient access without taking on the risks associated with self-custody within a digital wallet.

The two bitcoin ETFs aim to accurately reflect the prices of their respective associated cryptocurrencies. 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 that might be associated with a listed security.

“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,” Seif said.

Mutual fund units of the Purpose Bitcoin ETF and Purpose Ether ETF include:

  • Purpose Bitcoin ETF – Class A Units
  • Purpose Bitcoin ETF – Class F Units
  • Purpose Bitcoin ETF – Non-Hedged Class A Units
  • Purpose Bitcoin ETF – Non-Hedged Class F Units
  • Purpose Bitcoin ETF – Non-Hedged Class A USD Units
  • Purpose Bitcoin ETF – Non-Hedged Class F USD Units
  • Purpose Ether ETF – Class A Units
  • Purpose Ether ETF – Class F Units
  • Purpose Ether ETF – Non-Hedged Class A Units
  • Purpose Ether ETF – Non-Hedged Class F Units
  • Purpose Ether ETF – Non-Hedged Class A USD Units
  • Purpose Ether ETF – Non-Hedged Class F USD Units