---
title: Canadian Crypto ETF Manager Purpose Investments Adds Anchorage Digital Bank as Third Sub-Custodian
description: Purpose Investments becomes first Canadian digital asset ETF manager to use a three-sub-custodian model, adding Anchorage Digital Bank alongside Coinbase and Gemini.
author: Darie Nani (Editor-in-Chief)
updated: 2026-07-24T03:21:35.064Z
canonical: https://www.sovereignmagazine.com/article/canadian-crypto-etf-manager-purpose-investments-adds-anchorage-digital-bank-as-third-sub-custodian
image: https://cdn.nanimediahouse.com/purpose-investments-digital-custody-22021.webp
categories: FinTech
content_type: News
region: Ontario
publication: Sovereign Magazine
access: members
schema_type: Article
---

Toronto-based Purpose Investments became the first Canadian digital asset ETF manager to custody assets across three independent sub-custodians on 21 July 2026, adding Anchorage Digital Bank N.A. to an existing lineup that includes Coinbase and Gemini.

The addition means that Purpose's digital asset funds now hold assets spread across three regulated institutions, alongside Cidel Trust Company as the primary custodian. In practice, no single point of failure can immobilise the full position: if one sub-custodian faces an operational disruption, assets held elsewhere are unaffected. For investors in funds managing meaningful allocations to Bitcoin, Ether, or Solana, that structural separation carries more weight than custody arrangements that rely on a single counterparty.

Purpose has managed digital asset ETFs since 2021, when it launched what it describes as the world's first spot Bitcoin ETF. The firm has since added CAD-hedged units and expanded its product range. The three-sub-custodian structure is the latest evolution of what the company describes as a segregation-first approach to digital asset management.

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