Published On: Fri, Feb 2nd, 2018

Canada Gives the Greenlight to First Blockchain ETF

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Following the approval of Canada’s first blockchain ETF (exchange-traded fund), companies are eager to launch their own blockchain ETFs, well aware that the revolutionary technology is “here to stay.”
Leading the Charge
Harvest Portfolios’ plan to launch Canada’s first blockchain exchange-traded fund (ETF) has officially been greenlit.
The Ontario Securities Commission has approved of Harvest Portfolios’ plan to launch the country’s first blockchain ETF, appropriately titled Blockchain Technologies ETF. The new venture will carry the HBLK ticker, as well as a management fee of 0.65 percent.

The cryptocurrency-friendly country’s first blockchain ETF is set to mirror the performance of the Harvest Blockchain Technologies Index, which tracks the performance of issuers across the blockchain industry, with a focus on North American exposure.
You will find the fund trading next week on the Toronto Stock Exchange.
First, but Not Last
Harvest Portfolios isn’t the only company looking to get involved in blockchain exchange-traded funds.
Both First Trust Portfolios Canada and Evolve Funds Group Inc. are looking to get in on the action, having already presented their preliminary prospectuses with Canadian regulators earlier this week.
Karl Cheong, head of ETFs …

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