Canada’s Top 5 Bank Makes Crypto ETF Move With New Multi-Asset Fund

bitcoinistPublicado a 2026-03-06Actualizado a 2026-03-06

Resumen

Scotiabank's asset management arm, Dynamic Funds, has launched the Dynamic Active Multi-Crypto ETF (DXMC) in partnership with digital asset manager 3iQ. The fund provides regulated exposure to Bitcoin, Ether, Solana, and XRP through a single product on the Cboe Canada exchange, eliminating the need for direct crypto handling. Notably, it features a competitive management fee of 0.25%, reduced from the initially proposed 0.45%. The inclusion of Solana and XRP signals growing institutional acceptance, particularly for XRP following its legal challenges. The launch occurs amid reports of 3iQ's impending acquisition by Japanese exchange Coincheck. This move marks a major Canadian bank's entry into the multi-asset crypto ETF space, expanding accessible crypto investment options within the traditional regulated system.

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.

Now 3iQ is back, this time with a major bank at its side. Dynamic Funds, the asset management arm of Scotiabank, announced Wednesday the launch of the Dynamic Active Multi-Crypto ETF.

The fund trades on Cboe Canada under the ticker DXMC and gives investors regulated access to Bitcoin, Ether, Solana, and XRP through a single product listed on a traditional stock exchange — no crypto wallets, no private keys, no exchange accounts required.

Scotiabank. Photo by Can Pac Swire from Flickr

Fee Cut Draws Attention Before Trading Begins

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.

BTCUSD currently trading at $72,758. Chart: TradingView

The choice of assets also signals something. Bitcoin and Ether are fixtures in most institutional crypto products. Solana and XRP are newer additions to that tier.

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 Chapter

The timing of the launch comes with a footnote. According to reports, Japanese cryptocurrency exchange Coincheck recently agreed to acquire 3iQ for roughly $112 million in stock.

The 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.

Canada approved spot Bitcoin ETFs years before the US did, and its market has since expanded to include spot Ether products and a range of other digital asset funds spread across exchanges like the Toronto Stock Exchange and Cboe Canada.

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

Preguntas relacionadas

QWhat is the name of the new multi-asset crypto ETF launched by Scotiabank's Dynamic Funds and what is its ticker symbol?

AThe new ETF is called the Dynamic Active Multi-Crypto ETF and it trades under the ticker symbol DXMC on Cboe Canada.

QWhich four cryptocurrencies does the Dynamic Active Multi-Crypto ETF provide regulated access to?

AThe ETF provides regulated access to Bitcoin (BTC), Ether (ETH), Solana (SOL), and XRP.

QWhat is the management fee for the new Dynamic Active Multi-Crypto ETF and how long is this rate locked in?

AThe management fee is set at 0.25%, and this rate is locked in through March 1, 2027.

QWhy is the inclusion of XRP in this ETF considered significant according to the article?

AIt is significant because XRP spent years in a high-profile legal dispute with US securities regulators, and its inclusion suggests that in Canada, this regulatory shadow has lifted enough to pass a bank's compliance review.

QWhat major corporate development is looming over 3iQ, the fund's provider, and how might it affect this partnership?

AJapanese cryptocurrency exchange Coincheck has agreed to acquire 3iQ for roughly $112 million in stock. The deal is expected to close in Q2 of this year, and it remains to be seen how this ownership transition will affect 3iQ's existing partnerships, including the one with Dynamic Funds.

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