Key Takeaways
- • Scotiabank's Dynamic Funds launched the Dynamic Active Multi-Crypto ETF (ticker: DXMC) on Cboe Canada in partnership with 3iQ, providing institutional exposure to Bitcoin, Ethereum, Solana, and XRP through a single regulated product.
- • The fund carries a competitively priced management fee of 0.25% through March 1, 2027, reduced from an initial 0.45% rate, positioning it favorably against existing crypto ETF offerings.
- • Multi-asset crypto ETFs eliminate the need for individual token storage and management on decentralized exchanges, streamlining institutional access to diversified digital asset exposure within traditional brokerage infrastructure.
- • Canada established early-mover advantage in crypto ETFs, with 3iQ launching one of the world's first publicly traded spot Bitcoin funds in 2021—years before the SEC approved spot Bitcoin ETFs in early 2024—demonstrating the country's regulatory leadership in digital assets.
- • 3iQ's original Bitcoin fund achieved over CAD $1 billion in assets under management, establishing a successful institutional framework that now scales to multi-asset exposure through the new DXMC offering.
Summary
Scotiabank, one of Canada's top-five banks by assets, entered the multi-cryptocurrency ETF market on March 4, 2026, with the launch of the Dynamic Active Multi-Crypto ETF through its asset management subsidiary Dynamic Funds in partnership with digital asset manager 3iQ. The fund trades on Cboe Canada under ticker DXMC and provides investors with exposure to four major digital assets: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP. The product represents a significant institutional move by Canada's banking sector into actively managed cryptocurrency exposure.
The fund's fee structure demonstrates competitive positioning within the emerging multi-crypto ETF space. Dynamic priced the management fee at 0.25% through March 1, 2027, down from an initial proposed rate of 0.45%, a reduction that Bloomberg ETF analyst Eric Balchunas noted as "highly competitive from a fee perspective." This pricing strategy underscores aggressive competition in the Canadian crypto ETF market and reflects efforts to attract institutional capital amid growing demand for regulated digital asset access.
Multi-asset cryptocurrency ETFs address a structural pain point for institutional investors: the ability to gain diversified exposure to multiple digital assets without managing individual wallets, private keys, or custody arrangements across decentralized exchanges. By consolidating four major cryptocurrencies into a single regulated fund accessible through traditional brokerage accounts, DXMC simplifies compliance, custody, and operational workflows for institutional clients.
Canada's crypto ETF market has demonstrated regulatory sophistication ahead of major markets. 3iQ launched one of the world's first publicly traded spot Bitcoin funds in 2021, more than two years before the U.S. Securities and Exchange Commission approved spot Bitcoin ETFs in early 2024. That pioneering fund rapidly accumulated over CAD $1 billion in assets under management, validating institutional demand for regulated cryptocurrency exposure in Canada's relatively smaller but efficient ETF ecosystem. The DXMC launch builds on this established foundation, extending 3iQ's expertise into multi-asset structures as institutional adoption of digital assets continues to accelerate globally.
The fund's fee structure demonstrates competitive positioning within the emerging multi-crypto ETF space. Dynamic priced the management fee at 0.25% through March 1, 2027, down from an initial proposed rate of 0.45%, a reduction that Bloomberg ETF analyst Eric Balchunas noted as "highly competitive from a fee perspective." This pricing strategy underscores aggressive competition in the Canadian crypto ETF market and reflects efforts to attract institutional capital amid growing demand for regulated digital asset access.
Multi-asset cryptocurrency ETFs address a structural pain point for institutional investors: the ability to gain diversified exposure to multiple digital assets without managing individual wallets, private keys, or custody arrangements across decentralized exchanges. By consolidating four major cryptocurrencies into a single regulated fund accessible through traditional brokerage accounts, DXMC simplifies compliance, custody, and operational workflows for institutional clients.
Canada's crypto ETF market has demonstrated regulatory sophistication ahead of major markets. 3iQ launched one of the world's first publicly traded spot Bitcoin funds in 2021, more than two years before the U.S. Securities and Exchange Commission approved spot Bitcoin ETFs in early 2024. That pioneering fund rapidly accumulated over CAD $1 billion in assets under management, validating institutional demand for regulated cryptocurrency exposure in Canada's relatively smaller but efficient ETF ecosystem. The DXMC launch builds on this established foundation, extending 3iQ's expertise into multi-asset structures as institutional adoption of digital assets continues to accelerate globally.
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