Canada’s Scotia Bank has launched an active, multi-cryptocurrency ETF through its asset management arm, Dynamic Fund. The move marks a significant shift as it is the first Canadian bank to directly offer an active crypto-picking ETF, providing exposure to Bitcoin, Ethereum, Solana, and Ripple.
The asset management arm of the Bank of Nova Scotia, Dynamic Fund, has launched a new ETF offering Canadian investors exposure to multiple cryptocurrencies. The fund targets long-term capital appreciation through assets including Bitcoin, Ethereum, Solana, and Ripple.
Dynamic’s head Mark Brisley stated the crypto market has matured with growing investor demand and institutional adoption. “We have witnessed an evolution in the maturity of crypto assets, supported by growing investor demand, institutional adoption, and regulatory progress,” he said.
Bloomberg ETF analyst Eric Balchunas noted the significance of a major bank entering the space directly. “Scotia Bank has launched an active crypto-picking ETF in Canada today,” he observed, highlighting its low management fee.
This development follows a trend of institutional involvement in Canada’s crypto market. According to recent data from CoinShares, Canada saw $34 million in weekly inflows into crypto products. The country now holds nearly $4.9 billion in crypto assets under management, ranking third globally.
Canada treats cryptocurrency as property for tax purposes, applying capital gains tax to half of any profit. The country is also actively working to establish clear regulatory rules for the stablecoin sector alongside its existing framework.
