Harvest Portfolios to Launch Canada’s First Blockchain ETFAuthor: Thomas DelahuntyLast Updated: 03 February 2018Two more providers file plans with regulators to join the blockchain sector, while Harvest Portfolios gets the go-ahead to launch Canada’s first blockchain ETF.Last month, Harvest Portfolios filed with regulators to introduce an ETF that tracks blockchain technologies. Yesterday, February 1st, the firm received approval by the Ontario Securities Commission to launch the country’s first blockchain fund: Blockchain Technologies ETF. The fund has a management fee of 0.65% and seeks to replicate the performance of the Harvest Blockchain Technologies Index — an in-house index used to track the performance of issuers. It will begin trading next week on the Toronto Stock Exchange under the ticker HBLK.Meanwhile, two other notable providers are also looking to access blockchain technology: This week both First Trust Portfolios Canada and Evolve Funds Group Inc. have filed with regulators for blockchain funds.First Trust is looking to launch the First Trust Indxx Innovative Transaction & Process ETF, which will aim to replicate the performance of an index called the Indxx blockchain Index. With the ticker BLCK, it is the second fund provider to file an index fund with regulators in Canada. If approved, it will have a management fee of 0.80%. In the U.S, First Trust already has a Blockchain ETF trading under the ticker LEGR, which the Canadian fund will closely imitate, says Karl Cheong, head of ETFs for the company.“Every conversation we are having with clients — regardless if we are talking about a Canadian equities product or a U.S. equity product — inevitability leads to [a discussion about] blockchain or Bitcoin,” says Cheong.Already known for its niche lineup of ETFs, Evolve Funds also filed its plans to launch the Evolve blockchain ETF February 1st. If approved, it could become the country’s first actively-managed blockchain fund. With the ticker LINK, the fund will aim to actively invest in equity securities of issuers that are involved in the research, development, or utilization of blockchain technologies. It will have a management fee of 0.75%.The concept of blockchain is very attractive to investors right now, and while the idea is still relatively new, research shows that this is a technology that could potentially save billions of dollars in cost. “Blockchain technology is poised to disrupt virtually every business and industry, including financial services, real estate, healthcare, and government,” said Raj Lala, president and chief executive officer of Evolve in a statement.The post Harvest Portfolios to Launch Canada’s First Blockchain ETF appeared first on NewsBTC.