Scotiabank Debuts Multi-Crypto ETF with 0.25% Fee
Scotiabank, one of Canada's largest banks, has entered the cryptocurrency ETF market through its asset management division, Dynamic Funds. On Wednesday, the firm launched the Dynamic Active Multi-Crypto ETF (ticker: DXMC) on Cboe Canada in partnership with digital asset specialist 3iQ. The fund provides investors with actively managed exposure to a portfolio of major digital assets, including Bitcoin (BTC), Ether (ETH), Solana (SOL), and XRP.
To attract capital, the fund is launching with a highly competitive management fee of 0.25%, which is reduced from 0.45% until March 1, 2027. This fee structure positions the product aggressively against other offerings. The ETF framework allows investors to gain diversified crypto exposure through a single regulated product on a traditional stock exchange, eliminating the need for direct token custody.
Canada Extends Its Lead in Regulated Crypto Products
This launch reinforces Canada's position as a more mature market for regulated crypto investment vehicles compared to the United States. Canadian regulators approved spot Bitcoin ETFs in 2021, years ahead of their U.S. counterparts. 3iQ was a pioneer in this space, launching one of the world's first spot Bitcoin funds in 2021, which quickly grew to over C$1 billion in assets under management.
Since then, the Canadian market has expanded to include spot Ether funds and other multi-asset products, giving investors a broader range of regulated choices. The partnership with Scotiabank marks a significant step in mainstream adoption, combining the distribution power of a major bank with the specialized expertise of a crypto-native firm like 3iQ, which was recently acquired by Japanese exchange Coincheck for $111.84 million.
