Several new ETFs based on the cryptocurrency XRP have come to the Canadian market. Evolve Funds Group Inc. has launched the Evolve XRP ETF in both unhedged Canadian dollar (TSX: XRP) and U.S. dollar (TSX: XRP.U) versions.
Purpose Investments Inc. also launched the Purpose XRP ETF, available in Canadian dollar-hedged (TSX: XRPP) and non-hedged (TSX: XRPP.B), as well as non-hedged U.S. dollar (TSX: XRPP.U) versions.
3iQ Corp. introduced the 3iQ XRP ETF, offering no management fee for the first six months. It is available in Canadian dollars (TSX: XRPQ) and U.S. dollars (TSX: XRPQ.U).
XRP, the native token of XRP Ledger, an open-source blockchain, was established in 2012.
Desjardins offers Quebec equity ETF
Desjardins Global Asset Management has launched the Desjardins Quebec Equity ETF (TSX: DMQC), composed of publicly listed Quebec companies with head offices and administration located in the province. The portfolio is managed using capitalization, liquidity and concentration criteria.
“We designed this ETF to meet rising demand from our members and clients who wish to invest in the growth of their local economies,” says Sébastien Vallée, vice-president, Investment Solutions at Desjardins Group. “This gives them the option to make a concrete investment in publicly listed Quebec companies while diversifying their portfolios with a simple and competitive product.”
The fund has a management fee of 0.3%, which Desjardins said it would waive for the fund’s first year.
J.P. Morgan unveils U.S. equity ETF for Canadians
J.P. Morgan Asset Management Canada has launched the JPMorgan US Core Active ETF in Canada (TSX: JCOR). The ETF is designed to serve as a core holding in diversified portfolios, combining growth and value investing. It is managed by a team of 18 analysts.
“With the launch of JCOR, Canadian investors can now access a high-conviction, style-agnostic U.S. equity core strategy that captures the best of both growth and value styles,” said Jay Rana, head of Canadian advisor business at J.P. Morgan Asset Management, in a release.
J.P. Morgan Asset Management Canada made its ETF debut in Canada in October 2023.
Global X launches four leveraged U.S. index ETFs
Global X Investments Canada Inc. has launched four new ETFs offering triple and inverse triple exposure to the Nasdaq-100 and S&P 500 indices. The ETFs aim to deliver daily investment results, before fees and commissions, equal to 300% of the daily performance — or inverse performance — of the respective index.
The new products are:
- BetaPro 3x S&P 500 Daily Leveraged Bull Alternative ETF (TSX: TSPX)
- BetaPro -3x S&P 500 Daily Leveraged Bear Alternative ETF (TSX: SSPX)
- BetaPro 3x Nasdaq-100 Daily Leveraged Bull Alternative ETF (TSX: TQQQ)
- BetaPro -3x Nasdaq-100 Daily Leveraged Bear Alternative ETF (TSX: SQQQ)
Global X will hedge U.S. dollar gains or losses back to Canadian dollars to minimize exchange rate risk. It says the ETFs do not seek to achieve their objectives beyond a single day and are intended for investors who monitor their investments daily.
Harvest introduces single-stock Apple ETF
Harvest Portfolios Group Inc. launched the Harvest Apple Enhanced High Income Shares ETF, trading under the symbol APLE on the TSX. The ETF will pay a variable monthly distribution, with the first payment of $0.12 per Class A Unit scheduled for Aug. 8, 2025, to unitholders of record on July 31, 2025.
Dynamic Funds announces fund mergers, name change and mandate update
1832 Asset Management L.P., manager of Dynamic Funds, will merge four funds into two on or about July 18:
- Dynamic Credit Spectrum Fund will merge into the Dynamic Active Credit Strategies Private Pool
- Dynamic European Equity Fund will merge into the Dynamic International Dividend Private Pool
At the same time, Dynamic Strategic Resource Class will be renamed Dynamic Strategic Mining Class. Its investment objective, performance benchmark and reference index for performance fees will be updated on or about July 11.
The fund’s new mandate will be to provide long-term capital appreciation by investing primarily in global equity securities of companies involved in physical commodities. The reference index and benchmark will change to the MSCI World Metals and Mining Index (CAD).
National Bank teams up with Apollo Global Management
National Bank Investments has partnered with Apollo Global Management to expand private credit access for accredited Canadian investors.
The NBI Apollo Private Credit Fund, launched May 1, provides exposure to private credit opportunities in directly originated assets through investment in Apollo Debt Solutions BDC, a non-traded U.S. business development company.