RBC Investor & Treasury Services (RBC I&TS) has been appointed custodian by Coin Capital Investment Management’s new exchange traded funds (ETFs) which focus on emerging technologies.
The funds were launched on 20 September on the Toronto Stock Exchange and focus on blockchain, artificial intelligence (AI) and nanotechnology.
RBC will also provide fund accounting and fund administration services.
“We are excited to partner with RBC I&TS as our ETF custodian and look forward to expanding our relationship as we continue to grow our innovative investment offering in the emerging technology sector,” said Lewis Bateman, CEO of Coin Capital.
While the move does not signify RBC moving into cryptocurrency custody, it does show the rise of digital asset firms and their expanding suites of products.
“RBC I&TS’ deep understanding of the fast-growing ETF market, along with our strong custody and fund accounting and fund administration services, enable us to provide clients like Coin Capital with best-in-class services and client experience,” said David Linds, head, asset servicing canada, RBC Investor & Treasury Services. “We’re pleased the Coin Capital has selected RBC I&TS to manage their evolving ETF needs.”