The Securities Commission of Ontario (OSC) approved the first Canadian exchange traded fund (ETF) to be launched on the Toronto Stock Exchange next week.

Harvest Portfolios, an independent Canadian investment management company, in January filed a preliminary application for the creation of its blocking ETF (ticker: HBLK), seeking to provide Canadian investors the opportunity to participate in the blockbuster sector.

Harvest Portfolios said in a statement:

“The fund will invest in issuing securities of issuers engaged directly or indirectly in the development and implementation of blocking and distributed register technology.”

The company intends to use ETF to track technological projects related to the blockbuster, and reflect the Harvest Blockchain Technologies index.

According to Globe and Mail, two other Canadian companies, First Trust Portfolios Canada and Evolve Funds Group Inc., are also seeking to launch the block-ETF and this week filed their first bids to the regulator.

First Trust already exists in the US market, offering its block-ETF under the LEGR ticker. According to the company, the introduction in Canada of its first Trust Indxx Innovative Transaction & Process ETF (ticker: BLCK), modeled on the Indch Blockchain index, which reflects customer demand.

Carl Chong, head of ETF for First Trust Portfolios Canada, said:

“Every conversation we have with customers – regardless of whether we’re talking about a Canadian stock product or an American stock product, inevitably leads to discussions about the blockade or bitcoin.”

Evolve Funds Inc. argues that the proposed block-ETF, known as LINK, will be the first “actively managed” fund available to Canadian investors. The product will be positioned as “the use of new opportunities in the industry.”

It is expected that the fund will invest in “equity securities of issuers that participate in the research, development or use of blocking technologies, or participate in the supply chain on the basis of blockage, including technological equipment,” the company said in a statement.