Scotiabank’s Dynamic and 3iQ Launch Multi‑Crypto ETF DXMC with 0.25% Fee
Scotiabank’s asset-management arm Dynamic Funds and Toronto-based crypto manager 3iQ launched the actively managed Dynamic Active Multi‑Crypto ETF (ticker DXMC) on Cboe Canada. The ETF offers single-ticket, regulated exchange exposure to Bitcoin, Ether, Solana and XRP without requiring wallets or crypto exchange accounts. Dynamic set an initial management fee of 0.25% (reduced from 0.45%) and has locked that rate through March 1, 2027, a competitively low fee for an active crypto product. 3iQ — an early Canadian crypto fund pioneer that manages over CAD 1 billion for its spot-BTC vehicle — is reportedly being acquired by Japan’s Coincheck for roughly CAD 112 million in stock, with the deal expected to close in Q2 2026. The ETF’s asset mix (BTC, ETH, SOL, XRP) signals expanding institutional acceptance in Canada; XRP’s inclusion is notable given its long regulatory disputes in the U.S. For traders, DXMC broadens regulated on-exchange access to multi-asset crypto exposure through traditional brokerages, increases ETF-based alternatives to direct token custody, and intensifies fee competition among crypto ETFs — factors likely to attract inflows and change allocation flows between spot ETFs and direct holdings.
Bullish
The launch of DXMC with a competitively low 0.25% management fee increases regulated, on‑exchange access to BTC, ETH, SOL and XRP via a single ETF wrapper. Such products typically lower barriers for retail and institutional investors who prefer broker‑based exposure over direct custody. Fee compression and ETF convenience historically draw inflows into ETF wrappers and can shift assets away from direct spot holdings. Inclusion of BTC and ETH in a regulated Canadian ETF reinforces demand for these assets; SOL and XRP inclusion broadens investor exposure and may boost liquidity for those tokens. In the short term, an initial uptick in demand for the included assets (particularly BTC and ETH) is likely as the product seeks AUM. In the medium to long term, sustained inflows driven by lower fees and simpler access can be supportive for prices. Risks that could mute impact include limited initial distribution, competitive responses from other ETFs, or broader market downturns, but overall the news is net bullish for the mentioned cryptocurrencies’ price prospects.