Purpose Investments' bitcoin ETF crosses CAD1bn in AUM

Purpose Investments' (Purpose) Purpose Bitcoin ETF, the world’s first Bitcoin ETF backed by physically settled Bitcoin, has crossed CAD1 billion in assets under management on its one-month anniversary.

“When we launched Purpose Bitcoin ETF, we knew we were filling a void in the market. Hitting this milestone so quickly proves that investors are seeking convenient, safe access to cryptocurrencies and shows their confidence in our ETF as the premier vehicle for that exposure,” says Som Seif, founder and CEO of Purpose.

The ETF invests directly in physically settled bitcoin, not derivatives, allowing investors easy and efficient access to the emerging asset class of cryptocurrency without the associated risk of self-custody within a digital wallet.

Purpose acts as manager of the ETF and Ether Capital Corporation (Ether Capital), a company with significant experience and expertise in digital assets, acts as a special consultant to Purpose.

“Purpose is helping to bring cryptocurrency into the mainstream,” says Brian Mosoff, CEO of Ether Capital. “Cryptocurrency ETFs have the potential to be truly revolutionary and are an important investor conduit into the space as the ecosystem continues to mature.”

Since launching in 2012, Purpose Investments has been driven by its core principles. Purpose has earned its success through its dedication and approach to risk management, outcome-oriented investment strategies, accessibility, transparency and sustainability. These principles are a clear reflection of Purpose’s belief in the need to think differently to make a lasting impact for investors and on the asset management industry itself.

“We create success for investors by caring about the same things they do,” Seif says. “Working with Ether Capital, a company with deep expertise in the cryptocurrency space, allowed us to build a great product that we believe will have a positive impact on our clients and their investing experiences.”