The Ontario Securities Commission approved the first Canadian Exchange Traded Fund (ETF) in chain blocks, scheduled for launch on the Toronto Stock Exchange next week.

Harvest Portfolios, an independent Canadian investment management firm, filed preliminary filings for its Blockchain Technologies (Ticker: HBLK) ETF in January, seeking to offer Canadian investors an opportunity to buy in the blockchain technology sector. and mail.

The fund will invest "in equity securities of issuers exposed, directly or indirectly, to the development and implementation of blockchain and distributed ledger technologies," said a statement from Harvest Portfolios. The company expects the ETF to follow blockchain technology projects, mirroring its Harvest Blockchain Technologies Index.

According to the Globe and Mail, two other Canadian companies, First Trust Portfolios Canada and Evolve Funds Group Inc., are also looking to launch blockchain funds and filed their first prospectuses with regulators this week.

First Trust is already present on the American market, offering its blockchain ETF under the symbol LEGR. The introduction in Canada of its First Trust Indxx Indxx Innovative Transaction & Process ETF (ticker symbol: BLCK), which is inspired by the Indxx Blockchain Index, is the product of customer demand, indicated the society.

"Every conversation we have with our clients – no matter if we are talking about a product of Canadian stocks or US stocks – inevitably leads to blockchain or bitcoin," he said. Karl Cheong, Chief, ETFs, First Trust Portfolios Canada. , told the Globe and Mail.

Evolve Funds Inc. claims that its proposed blockchain ETF, known as LINK, would be the first "managed asset" available to Canadian investors. The product will enable the company to "take advantage of emerging opportunities in the industry".

Its fund will invest in "equity securities of issuers involved in the research, development or use of blockchain technologies, or involved in the supply chain for blockchain applications, including including technological equipment ".

As previously reported by CoinDesk, the first blockchain ETFs to be traded in the US were launched on Nasdaq and NYSE Arca last month.

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