Evolve Funds has lowered the management fee on its Bitcoin ETF (EBIT CN) just one week after the fund launched on the Toronto Stock Exchange.

AdvisorShares’ actively managed US cannabis ETF has surpassed $1 billion in assets under management, less than six months after its debut on NYSE Arca.

Evolve Funds has become the second Canadian ETF issuer to secure regulatory approval for a directly backed bitcoin ETF.

Purpose Investments looks set to introduce North America’s first directly backed bitcoin ETF following approval by Canadian securities regulators. It will also become the first exchange-traded bitcoin product of any major developed market to officially sport the ‘ETF’ moniker.

ETFs providing exposure to the medical cannabis investment theme appear poised to enter a new stage of growth fuelled by merger and acquisition activity.

Horizons ETFs Canada has slashed the management fee on the Horizons Gold ETF (HUG CN) from 0.65% to 0.20%, making it one of the lowest-cost gold ETFs in Canada. Steve Hawkins, President and CEO of Horizons ETFs, said, “Our fee reduction represents more than a two-thirds decrease in the management fee of the ETF – a significant cost savings opportunity that we are happy to pass on to investors looking for a low-cost ETF solution to obtain exposure to gold.”

Overlooked by many and misunderstood by others, ETFs providing exposure to the medical cannabis industry represent an investment proposition that appears on the cusp of a mainstream breakthrough as fresh medical evidence of the pharmacological and therapeutic benefits of cannabis combines with changing attitudes and pro-legalization momentum worldwide.

Purpose Investments is set to launch its first ETF in Europe, the Medical Cannabis and Wellness UCITS ETF (CBSX GR) on Xetra. The fund, which is being brought to market in collaboration with white-label ETF provider HANetf, will be the first UCITS ETF to deliver targeted exposure to the rapidly expanding medical cannabis industry. Som Seif, CEO of Purpose Investments, said, “We believe that the cannabis sector is still in the infancy stages of a multi-year growth phase and that there is ample opportunity for innovation and new discoveries.”

Purpose Investments has announced a reduction in the management fee on the Purpose Behavioural Opportunities Fund (BHAV US) from 1.00% to 0.75%, effective 1 January 2020. The actively managed ETF uses the foundations of behavioural economics and psychology in a bid to identify and profit from irrational, emotionally driven investor decisions. Som Seif, CEO of Purpose Investments, commented, “The fund is a cutting-edge strategy that takes advantage of the latest research to give investors a truly unique way to generate returns.”

Evolve Funds has unveiled a new actively managed ETF in Canada that seeks to maximize monthly income while preserving capital and liquidity by investing in high-interest deposit accounts. The Evolve High Interest Savings Account ETF (HISA CN) has listed on Aequitas NEO Exchange and comes with a management fee of 0.15%.