TORONTO, CANADA (February 20, 2025) – The CIFSC continuously monitors fund categorization, category definitions and structures, and emerging trends in the investment funds industry.
Over the past few years, a new type of investment exposure has gained traction in Canada—funds that hold or track digital assets such as Bitcoin, Ethereum, and other blockchain-based instruments. These funds operate differently from traditional alternatives. Their underlying assets trade around the clock, use distinct valuation and custody processes, and exhibit unique volatility patterns.
On December 1, 2025, the committee submitted a proposal [hyperlink to initial proposal pdf] to define digital assets and create a new digital assets category:
• Define digital assets within the Notes on Classification Methodology in the CIFSC Retail Investment Fund Category Definitions.
• Add “digital assets” as a distinct asset type under the “Other” asset class within the CIFSC asset classification table.
• Create a new category: Alternative Digital Assets.
Following a 30-day comment period, the committee voted to accept the proposal on February 17, 2026. Approved changes are effective March 31, 2026, and will be reflected in the release of March 2026 month-end data.
The new English definitions may be found here.
The new French definitions will be available shortly.
The new flow chart may be found here.
