New exchange-traded crypto funds launching in Canada today will be 1st to pay monthly yield

A Toronto-based money manager that launched the world’s first bitcoin exchange-traded fund (ETF) earlier this year is unveiling three new funds on the TSX Tuesday that will be the first crypto assets trading on stock markets that will pay out a monthly yield.

The new funds from Purpose Investments target investors looking to put their money into the volatile world of cryptocurrencies, such as bitcoin or ethereum, through more traditional investment vehicles.

An exchange-traded fund is similar to a mutual fund in that it is a collection of assets bundled together. Unlike a mutual fund, however, an ETF trades on a stock exchange, which makes