Purpose Investments launches first ETFs that pay monthly yield
By Bob Garcia
Purpose Investments announced today that it has officially launched two new cryptocurrency ETFs that pay a monthly yield. The exchange-traded funds can be found on the TSX, which is Canada’s main stock exchange.
As the name suggests, the Purpose Bitcoin Yield ETF (BTCY.B) will invest in bitcoin and the Purpose Ether Yield ETF (ETHY.B) will hold Ethereum. Purpose Investments made headlines earlier this year when it launched the world’s first direct custody Bitcoin ETF.
Speaking about the launch, Purpose Investments CEO and Founder Som Seif said, “We’re very excited to once again be a global leader in delivering high-quality new crypto solutions to investors by launching three new actively managed and option strategy yield cryptocurrency ETFs,” He added, “With these ETFs, we aim to expand the ways investors can access crypto markets and generate the unique returns available in this emerging asset class. These products will complement our existing Bitcoin and Ether ETFs and provide a different form of return-and-risk profiles for investors.”
Purpose Investments has also launched the Purpose Crypto Opportunities ETF. Although this investment product doesn’t offer investors monthly income, it does give clients exposure to other facets of the cryptocurrency ecosystem. At launch, the Purpose Crypto Opportunities ETF owns well-known names such as Coinbase, Robinhood, and Nvidia, as well as Tesla, which has Bitcoin on its books.
The above is solely for informational purposes and not intended to be investment advice. Always seek a duly licensed professional for investment advice.
For more details about Purpose Investments, visit purposeinvest.com.