Scotiabank Enters Crypto Market with New Multi-Asset ETF

Canada's crypto market continues to expand with the launch of the Dynamic Active Multi-Crypto ETF by Scotiabank's Dynamic Funds. The fund, traded on Cboe Canada under the ticker DXMC, provides investors with regulated access to four cryptocurrencies: Bitcoin, Ether, Solana, and XRP.

The management fee for the fund is 0.25%, which is lower than its original rate of 0.45% and will remain locked in through March 1, 2027. This move highlights Canada's growing crypto market, where spot Bitcoin and Ether products have been approved for years, while the US has only recently begun to greenlight similar products.

The inclusion of XRP in the fund is notable, as it spent years caught up in a high-profile legal dispute with US securities regulators. Its inclusion suggests that Canada's regulatory environment has cleared the way for its use in institutional products.