TORONTO – Purpose Investments Inc. reported that Purpose Bitcoin ETF, the world’s first Bitcoin ETF backed by physically settled Bitcoin, crossed $1 billion in assets under management on its one-month anniversary, emphasizing investor’s confidence in innovation and demand for this burgeoning asset class.
“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,” said 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, 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,” said 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 continued. “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.”
Purpose is committed to not only providing access to digital assets, but also to educating investors. In addition to the ETF, Purpose has a cryptocurrency knowledge centre that gives investors the knowledge and tools to understand this emerging asset class.
Purpose is an asset management company with more than $11 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation, offering a range of managed and quantitative investment products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent, technology-driven financial services platform that is reshaping the industry by connecting and creating opportunities across asset management, wealth management and small business financial services.
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