Purpose Investments has applied to the local authority to set up three more cryptocurrency exchange-traded funds (ETFs) in Canada.
According to a statement released on Wednesday, the company Purpose Crypto Opportunities ETF, Purpose Bitcoin Yield ETF and Purpose Ether Yield ETF took action to establish three new ETFs.
The bitcoin and ether exchange-traded funds created by Purpose Investments started trading in Canada earlier this year.
The Purpose Crypto Opportunities ETF will invest in publicly traded securities and derivative instruments that will offer customers digital asset exposure.
In Bitcoin Yield and Ether Yield funds, where a derivative-oriented strategy will be followed, it is aimed to provide monthly returns to customers.
Purpose Investments, which will undertake the management of these two funds, also plans to establish a fund for the decentralized finance (DeFi) sector.