Harvest Portfolios have announced that they’ve been granted regulatory approval for the first ever Canadian Blockchain-based Exchange Traded Fund (ETF). News of the approval was shared in a press release on February 1 issued by the company. In the press release, Harvest stated the Blockchain ETF aims to “provide Canadian investors access to the developing blockchain technology sector.”
Harvest’s Blockchain ETF seeks to replicate the performance of the Harvest Blockchain Technologies Index – an in-house index used to track the performance of issuers. The Blockchain Technologies ETF will trade under the ticker symbol HBLK on the Toronto Stock Exchange. Management fees of the fund are 0.65%.
Approval of the Harvest ETF is good news for two other Canadian companies, Evolve Funds Group Inc. and First Trust Portfolios Canada, as they have also recently filed for approval of similar ETFs.
Evolve Funds have filed plans to launch its Evolve blockchain ETF under the ticker LINK. The fund’s aim is to actively invest in equity securities of issuers involved in development, research, or utilization of blockchain technologies. The Evolve fund would become the first actively-managed blockchain fund in Canada if approved. Management fees of the fund will be 0.75%.
First Trust have filed plans to launch the First Trust Indxx Innovative Transaction & Process ETF, which will replicate the performance of the Indxx blockchain Index. This fund will trade under the BLCK ticker and will have management fees of 0.80%.