zet casino promotion

OSC Approves Blockchain ETF

The Ontario Securities Commission (OSC) approved the country’s first blockchain ETF. As per the report, Harvest Portfolio Group Inc. filed a final prospectus with OSC to proceed Canada’s first blockchain ETF. It is called, Blockchain technologies ETF (HBLK), which shall be listed on the Toronto Stock Exchange. With the initiation of HBLK, Canadian investors will now have easier access to blockchain technology sectors. The fund is associated with a management fee of 0.65 percent. The firm would represent an index to track issuer’s performance directly or indirectly contributing to equity securities. Such investment/funds will be sustaining the development and implementation of blockchain technologies in North America.

First Blockchain ETF in North America with OSC’s Approval

Reality Shares and Amplify ETFs in the US are the two companies presently in a queue to get approval by SEC. In Canada, there are already two companies that have filed prospectuses with regulators this week for ETFs, those are Firth Trust Portfolios Canada and Evolve Funds Group Inc. Notably, HBLK stands as the first blockchain ETF in North America with OSC’s approval. Reportedly, trading will begin from next week on the Toronto Stock Exchange. Harvest will control HBLK and act as a trustee, manager, promoter and a portfolio manager.

Harvests Portfolio Group Inc.

Back in 2009, Harvests Portfolio Group Inc. was established to facilitate Canadian investors with investment products. As a registered investment fund and portfolio manager, Harvest features 3 keys to its investment portfolio – Simplicity, transparency and consistent income. According to Michael Kovacs, President and CEO of Harvest, Blockchain technology has a high potential to innovate in various business sectors:

“Blockchain technology is creating revolutionary and disruptive change at many levels. During this nascent stage of development, blockchain technology is providing new opportunities for business, government and many other conduits of information and financial exchange.” “HBLK provides a simple way for investors to participate in the growth of this fast-developing sector,” he concluded.

The Backbone of Cryptocurrency

When it comes to money, Bitcoin/blockchain seems the most significant experiment in human history which has caught the attention of institutions, investors, and public entities. Since Bitcoin’s inception, many platforms have emerged to make the use of cryptocurrency friendlier. These include: blockchain apps, walletsd and trading platforms. Now a blockchain ETF will provide another vehicle for the average investor to enter the world of cryptocurrencies, although an ETF is probably an oxymoron for most cryptocurrency enthusiasts who are used to the “don’t trust, verify” motto.

Canada and Cryptocurrency

Canada is one of the most proactive countries when it comes to the cryptocurrency revolution. Miners are increasingly setting up their operations in the country with the blessing – or at least a lack of intervention – of provincial governments such as Quebec. More local exchanges are emerging and even the Bitcoin ATM can trace its origins to a cafe in Vancouver. Now the first approved blockchain ETF got the greenlight from an influential provincial regulator – the Ontario Securities Commission.


Tabassum Naiz

Tabassum is an enthusiastic author, web geek, writer & digital marketer, with experience writing for tech, digital and cryptocurrency blogs. Follow her on Twitter

More Posts

Pin It on Pinterest

Share This