Coinsquare Launches Blockchain ETF On Toronto Stock Exchange
Coin Capital Investment Management (Coincapital), the investment and asset management arm of Canadian crypto-exchange operator Coinsquare, announced Thursday that it is releasing its first two Exchange Traded Funds (ETFs) on the Toronto Stock Exchange (TSX). Coincapital STOXX Blockchain Patents Innovation Index Fund (LDGR) and Coincapital STOXX B.R.AI.N. Index Fund (THNK) will enable Canadian investors to access blockchain and other innovative technology companies.
Coincapital CEO Lewis Bateman said: “Canadians know that technologies like AI and blockchain will change the way we live and work, but access to high-quality investment in this sector can be difficult without deep knowledge. We do this work for investors, leveraging our deep industry knowledge to provide Canadians with an innovative set of investment solutions to help them invest in new technology, even if they are not experts. “.
The first ETF under the ticker LDGR tracks companies that focus on research and development in distributed ledger technology. The fund, which relies on a proprietary AI algorithm to select eligible companies, will track the iSTOXX Yewno Developed Markets Blockchain Index. The main factor that will be taken into account in the selection of companies is the number of patent applications in the blockchain field. This, according to the idea of the developers, will allow the most effective identification of innovators and promising companies..
A second fund, called THNK, gives investors access to companies in areas such as AI, robotics, biotechnology, and nanotechnology. The ETF tracks the iSTOXX Developed Markets B.R.AI.N Index, which includes companies that make at least half of their profits from activities in the above areas.
Both ETFs began trading on the Toronto Stock Exchange when the market opened on Thursday.
Coinsquare previously announced plans to expand in Europe by the end of the year, allowing new customers to use its platform to exchange Bitcoin, Ethereum and other cryptocurrencies. The firm also announced earlier this month that it is going to launch a new US exchange..
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