The fund behind the product has history with this asset class. Toronto-based 3iQ debuted one of the world’s first publicly traded spot Bitcoin funds back in 2021, well ahead of US regulators, who didn’t greenlight comparable products until early 2024.
That fund crossed $1 billion Canadian dollars in assets under management — a milestone made more striking by how small Canada’s overall ETF market is compared to its southern neighbor.
Before the fund had logged a full day of trading, it was already drawing attention for its price tag. Dynamic set the management fee at 0.25%, reduced from an original 0.45%, and locked that rate in through March 1, 2027.
Bloomberg ETF analyst Eric Balchunas flagged the number publicly, calling it highly competitive within the space.
Multi-asset crypto funds have been growing in appeal among investors who want broad exposure without picking individual tokens.
Rather than buying and storing each asset separately across different platforms, a single ETF handles all of it inside a familiar, regulated wrapper. For retail investors especially, that simplicity carries weight.
XRP in particular spent years caught up in a high-profile legal dispute with US securities regulators — a fight that cast a long shadow over its institutional standing.
Its inclusion here suggests that, at least in Canada, that shadow has lifted enough to pass a bank’s compliance review.
Ownership Change Looms Over 3iQ’s Next ChapterThe deal has not yet closed and is expected to wrap up sometime in the second quarter of this year. How the ownership transition affects 3iQ’s existing partnerships — including the one with Dynamic Funds — remains to be seen.
Scotiabank’s entry adds another major financial institution to that list, widening the pool of Canadians who can access crypto through their standard brokerage accounts without stepping outside the regulated system.
Featured image from Unsplash, chart from TradingView
