CoinCapital, AKA Coin Capital Investment Management is planning to launch two exchange-traded funds (ETFs) for trading on the Toronto Stock Exchange. Incidentally, this is the first time that the portfolio investment management unit of Canada’s virtual currency exchange operator is launching an ETF. CoinCapital is the subsidiary of Coinsquare, registered recently at the Ontario Securities Commission.
CoinCapital representative to ring the bell at TSE
The Toronto Stock Exchange will offer Coinsquare representatives the honor of ringing the bell. Coincapital is the newest exchange-traded fund provider of the country. It is a usual practice at TSE to provide an opportunity to ring the bell at its official Market Open Ceremonies to give more exposure to selected companies. TSE broadcasts these openings live on the morning show of Business News Network, TSX.com, live on YouTube and TMX.com.
The earlier exchange-traded funds also received the same opportunity. These include Coincapital STOXX Blockchain Patents Innovation Index Fund and, Coincapital STOXX B.R.AI.N, Index Fund. The Canadian secure cryptocurrency trading platform trades in Ethereum (ETH), Bitcoin (BTC), and other popular virtual currencies.
While talking about the launch of Coincapital, CEO Lewis Bateman stated, “Canadians know technologies like AI and the blockchain are going to change the way we live and work, but it can be difficult to access high-quality investments in these sectors without deep domain expertise.”
ETF to track companies focused on R & D
Out of the two ETFs the first one will keep track of the work done by companies focused on research and development of DLT including blockchain. Called LDGR, the fund relies on an artificial intelligence (AI) algorithm for detecting and picking up relevant companies. The ETF will keep a track of iSTOXX Yewno Developed Markets Blockchain Index.
The second fund will provide exposure of companies to the investors that are operating in four different technologies including biotechnology, nanotechnology, robotics, and AI. It will keep a track on the iSTOXX Developed Markets B.R.A.I.N Index that lists companies generating half the revenues on the basis of aggregate in the four sectors mentioned above.