Scotiabank’s asset-management arm has joined Canada’s growing crypto-ETF club, launching a multi-crypto product that packages the most-traded digital assets into a single, regulated fund.
What launched
Dynamic Funds (Scotiabank) on Wednesday listed the Dynamic Active Multi-Crypto ETF on Cboe Canada under the ticker DXMC. The actively managed fund offers institutional-style exposure to Bitcoin, Ether, Solana and XRP inside a traditional stock-exchange wrapper — no crypto wallets, private keys or exchange accounts required.
Fees and structure
Dynamic set an attractive management fee of 0.25% (down from an initial 0.45%), and has locked that rate through March 1, 2027 — a point Bloomberg ETF analyst Eric Balchunas flagged as highly competitive for an active crypto product. Balchunas also noted the fund will hold the major tokens and includes about a 10% equity sleeve, according to his public comments.
Why it matters
Multi-asset crypto ETFs appeal to investors who want broad crypto exposure without managing multiple custodians or self-custody complexity. For retail investors especially, a single regulated ETF simplifies access while keeping holdings inside the traditional brokerage ecosystem.
The asset choices are telling: BTC and ETH remain the anchors of institutional offerings, while Solana and XRP have been elevated into more mainstream product lineups. XRP’s inclusion is notable given its years-long legal battle with U.S. regulators — its presence here indicates Canadian compliance teams (and a major bank) are comfortable with its current standing.
Background and context
The fund’s launch comes from a Canadian market that has long been ahead on spot crypto ETFs: Toronto-based 3iQ launched one of the world’s earliest publicly traded spot Bitcoin funds in 2021, well before U.S. regulators approved similar products in early 2024. 3iQ’s Bitcoin fund surpassed CAD 1 billion in assets — a milestone made more striking by Canada’s relatively small ETF market compared with the U.S.
A pending corporate twist
Coincheck, the Japanese crypto exchange, recently agreed to buy 3iQ for roughly $112 million in stock; that deal has not closed and is expected to complete in the second quarter. How a change in 3iQ’s ownership will affect existing partnerships — including any links with Dynamic Funds — remains to be seen.
Bottom line
Scotiabank’s entry through Dynamic Funds widens regulated access to crypto for Canadian investors, adding another major financial institution to the list of firms bringing digital assets onto mainstream exchanges. As banks and large asset managers roll out similar products, the lines between traditional finance and crypto continue to blur.
(Featured image: Unsplash; chart: TradingView)
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