Interested persons can now invest in companies and projects associated with Blockchain technology through the Canadian Stock Exchange.
The Ontario Securities Commission officially approved the launch of the first tradable fund (better known as ETF) related to Blockchain technology in Canada, which will be marketed on the Toronto Stock Exchange next week.
The company responsible for this initiative is Harvest Portfolios , an independent investment management company based in Canada, which presented the respective documentation for the launch of its Blockchain Technologies ETF (identified under the acronym HBLK ) during the month of January, with the intention of providing the opportunity for Canadian investors to make purchases in the technology sector underlying the digital currencies. This was reported by the news agency The Globe and Mail .
The respective fund is intended for the investment of “equity securities by related companies – directly or indirectly – in the development and implementation of Blockchain technology ” , which is why the company intends for the ETF to track projects associated with decentralized ledger technology, assigning a reputation index so that interested persons can invest in them.
According to The Globe and Mail, there are two other companies based in Canada that are also trying to launch funds associated with Blockchain technology . These are First Trust Portfolios Canada and Evolve Funds Group Inc. , which have already introduced the respective documentation before the responsible body this week.
Originally, First Trust already has a presence in the US markets and has arranged its ETF Blockchain in the country for interested investors .
On the decision to bring this type of operations to Canada, Karl Cheong, ETF head for First Trust Portfolios Canada , commented:
“In every conversation we have with our clients, regardless of whether we are talking about a Canadian or American rental product, there is always the issue of Blockchain or Bitcoin … there is a lot of interest in these areas in the markets.”
For its part Evolve Funds Inc. stated that its proposed ETF Blockchain in Canada would be the first “actively managed” that will be available to Canadian investors, since the product will position the company to “capitalize opportunely the emerging proposals in the industry that result promising. ”
According to information published in a press release, the respective fund will invest in “equity securities by issuers related to the research, development and / or use of Blockchain technology , or who participate in the production of hardware and associated applications”.