On March 4, 2026, Dynamic Funds, part of Scotiabank-owned 1832 Asset Management L.P., officially launched the Dynamic Active Multi-Crypto ETF (ticker: DXMC), listed on Cboe Canada Inc. in Toronto. This marks the first multi-asset cryptocurrency ETF issued by a major Canadian bank-owned asset manager, signaling increased institutional adoption of digital assets.
Fund Structure and Advisory Arrangement
The actively managed liquid alternative fund is sub-advised by 3iQ Digital Asset Management, a global pioneer in crypto asset management. Pascal St-Jean, CEO of 3iQ, stated: “Together, we are bringing investors a sophisticated institutional-grade multi-crypto strategy and continue to redefine crypto investing.” The portfolio currently includes four major digital assets: Bitcoin, Ethereum, Solana, and XRP. Additionally, a portion of the fund is allocated to companies developing Web3 and blockchain technologies, providing diversified blockchain exposure.
Fee Waiver and Regulatory Highlights
Dynamic Funds has implemented a management fee waiver, reducing the standard 0.45% fee to 0.25% until March 1, 2027. This reduced cost makes the ETF highly competitive among similar products. The fund is classified as a liquid alternative fund, ensuring transparency and compliance with Canadian regulations, offering institutional investors a compliant gateway to crypto exposure.
Market Context and Industry Impact
The launch comes as Canada maintains its leadership in crypto regulation. Already home to several spot Bitcoin and Ether ETFs, the addition of a multi-crypto ETF broadens investor choice. Unlike single-asset funds, DXMC provides a diversified portfolio in one product, lowering the barrier to entry for balanced crypto investment. Analysts believe Scotiabank's move will encourage other traditional financial institutions to follow suit, setting a benchmark for North American markets.
Frequently Asked Questions
Q: Where is the DXMC ETF listed? A: It is listed on Cboe Canada Inc. in Toronto.
Q: Which firm serves as sub-adviser? A: 3iQ Digital Asset Management serves as sub-adviser.
Q: What is the discounted management fee for the first year? A: The fee is reduced to 0.25% until March 1, 2027.
Q: Which digital assets are currently included? A: Bitcoin, Ethereum, Solana, XRP, and others.