Coinsquare’s Coincapital Launches Two ETFs on the Toronto Stock Exchange

Coin Capital Investment Management (Coincapital), the investment and portfolio management unit of the Canadian cryptocurrency exchange operator Coinsquare, announced on Thursday that it was about to launch its first two exchange-traded funds (ETFs), which will be traded on the Toronto Stock Exchange (TSX). The ETFs, called Coincapital STOXX Blockchain Patents Innovation Index Fund (LDGR) and Coincapital STOXX B.R.AI.N. Index Fund (THNK), will give Canadian investors exposure to companies focused on blockchain and other innovative technologies. 

Coincapital CEO Lewis Bateman 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,” he added.

The first ETF, called LDGR, tracks companies that are focused on the research and development of distributed ledger technologies, which also includes blockchain. The fund, which relies on a proprietary artificial intelligence (AI) algorithm to detect and pick relevant companies, will track the iSTOXX Yewno Developed Markets Blockchain Index. The main factor considered in the selection procedure is the number of patent applications related to blockchain intellectual property, a criterion that easily detects technological innovators.

The other fund, THNK, provides investors with exposure to companies operating with four disruptive technologies, including AI, robotics, biotechnology, and nanotechnology. The ETF tracks the iSTOXX Developed Markets B.R.AI.N Index, which lists companies that generate at least half of the revenues based on the aggregate of the four mentioned sectors.

Both ETFs started trading on the TSX after the market opened on Thursday morning.

Last month, we reported that Coinsquare was working to expand its business in Europe by the end of this year, allowing EU clients trade cryptocurrencies like Bitcoin and Ethereum among others. At the beginning of this month, the Canadian firm partnered with Riot Blockchain to launch a new crypto exchange in the US.