The second fund, THNK, invests in global equity securities of companies that work in biotechnology, robotics, artificial intelligence, and nanotechnology using blockchain. The key criterion is that a company must generate 50% of revenues from the aggregate of the B.R.AI.N sectors.
The Toronto Stock Exchange (TSX) has welcomed Coin Capital Investment Management as Canada’s newest ETF provider. The asset manager is registered with the Ontario Securities Commission and is the investment and portfolio management division of digital asset trading platform Coinsquare.
TSX has listed two exchange-traded funds (ETFs) launched by Coin Capital to provide exposure to the emerging technologies through some of the world’s leading companies.
The two ETFs are Coincapital STOXX Blockchain Patents Innovation Index Fund (“LDGR”) and the Coincapital STOXX B.R.AI.N. Index Fund (“THNK”). The first fund tracks global equity securities of companies that are investing in the research and development of blockchain technologies, backed by a proprietary artificial intelligence algorithm to identify and select companies in the fund. The key criterion used in the selection process is patent filings related to blockchain intellectual property, identifying blockchain innovators as well as blockchain adopters.
Lewis Bateman, Chief Executive Officer of Coincapital, commented:
“Canadians know technologies like AI and the blockchain are going to change the way we live and work, but it can be difficult to access high-quality investments in these sectors without deep domain expertise. We’re doing the work for investors, using our in-depth industry knowledge to provide Canadians with an innovative suite of investment options that help them invest in new technology even if they’re not an expert.”
The multi-manager crypto hedge fund is led by managing partner Jeff Nabers, founder of Solo401k.com. Its parent company, Coinsquare, has recently raised $30 million in new funding led by financial services firm Canaccord Genuity. to “be used to fuel a global growth plan and diversification strategy focused on making the platform even more responsive to mainstream customers’ needs.”
The cryptocurrency exchange, which is Canada’s biggest digital currency operator, is targeting about C$150 million ($120 million) in an initial public offering in September as it eyes the US and UK markets.