Investing · Boston Trading Co
Boston Trading Co RAFAH Halal Crypto Fund
Co-Founder & CEO, HalalWallet
Facts are re-verified against Boston Trading Co's published materials; this page updates when the provider's terms, rates, or coverage change.
RAFAH is Boston Trading's managed digital-asset fund for Muslim investors, launched February 2025. The prospectus screens out interest-based platforms and alcohol, gambling, pork and adult-entertainment projects, favouring profit/loss-sharing and ethical-finance tokens. Accredited investors only, US$10,000 minimum.
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What is the Boston Trading Co RAFAH Halal Crypto Fund?
RAFAH is Boston Trading's managed digital-asset fund for Muslim investors, launched February 2025. The prospectus screens out interest-based platforms and alcohol, gambling, pork and adult-entertainment projects, favouring profit/loss-sharing and ethical-finance tokens.
- Contract structure: Managed digital-asset fund (pooled, accredited-only).
- Available in every province.
- Shariah oversight disclosed: No Public Review.
- Verified against Boston Trading Co's published materials on 2026-10-07.
Source: HalalWallet (halalwallet.ca)
Key facts
- Structure
- Managed digital-asset fund (pooled, accredited-only)
- Program type
- Crypto Fund
- Management fee
- 2% MER + performance fee above benchmark (1%-3% p.a. range across funds)
- Minimum investment
- US$10,000 (top-ups from US$1,000); accredited / equivalent Canadian investors only
- Screening method
- Self-declared Shariah screen from the RAFAH prospectus: excludes interest-based platforms; avoids alcohol, gambling, pork and adult entertainment; favours profit/loss-sharing and ethical-finance projects. No named scholar, supervisory board or third-party certificate.
- Holdings
- Sample allocation (prospectus, May 2025): HalalChain 20%, Islamic Coin 15%, Tezos 15%, Marhaba DeFi 15%, Celo 15%, SolarCoin 10%, ZakatDAO 10%. Illustrative only; no live RAFAH holdings page published.
- Focus
- Managed Halal Crypto Fund
- Account types
- Individual, 401(k), Roth IRA, Trust, Company, Family Office
- Availability
- every province
- Shariah oversight
- No Public Review
- Shariah board
- No Public Review
- Provider founded
- 2016
- Last verified
- 2026-10-07
Facts are taken from Boston Trading Co's published product materials and were last verified on 2026-10-07. Fields the provider does not publish are omitted rather than estimated.
Our take
RAFAH is the first managed crypto fund we have seen put a halal screen in writing: the prospectus excludes interest-based platforms and the usual haram industries and tilts toward Islamic-finance tokens like Islamic Coin and Marhaba DeFi. That is more than most 'halal crypto' marketing offers. It is also where the evidence stops. No scholar, board, fatwa or certifier is named anywhere on the site or in the prospectus, and the document itself tells you to consult Islamic scholars before investing. Add the accredited-investor gate, the US$10,000 minimum, a 2%-plus-performance fee, and the provider's own statement that it is still 'in process' on US regulatory approval, and RAFAH is a product for sophisticated investors who have already settled the is-crypto-halal question for themselves. If you have not, start with our scholar-position guide and a certified halal ETF.
Strengths
- The only managed crypto fund we list that publishes a written halal screen (riba, gharar and haram-industry exclusions in the prospectus)
- Fiat-in, done-for-you structure removes wallets, exchanges and custody from the investor's plate
- Manager has run pooled crypto portfolios since January 2016, through several full market cycles
- Monthly unit-price reporting and a stated no-lock-in policy
Watch-outs
- No named Shariah scholar, supervisory board, fatwa or third-party certificate; the halal label is self-declared and the prospectus tells you to consult scholars yourself
- Crypto is still contested among scholars; several sample holdings are DeFi or proof-of-stake tokens whose yields raise their own Shariah questions
- Accredited / equivalent Canadian investors only, with a US$10,000 minimum; the fund is US-dollar denominated and US-based
- Provider's own US terms state the offerings have not been reviewed or approved by the SEC or CFTC and that regulatory approval is 'in process'; an ADGM (Abu Dhabi) licence application is also pending
- 2% MER plus a performance fee above benchmark is expensive next to halal ETFs charging under 0.70%
- Young fund (launched 2025) with no live holdings page, unlike the flagship Bostoncoin and DART funds
Is the Boston Trading Co RAFAH Halal Crypto Fund halal?
RAFAH's May 2025 prospectus states the fund 'complies with Shariah and Islamic financial principles, including the prohibition of riba, gharar, and investment in haram industries.' Its published selection criteria exclude interest-based platforms; avoid alcohol, gambling, pork and adult entertainment; focus on profit/loss-sharing and ethical finance; and favour environmental sustainability and financial inclusion. The sample allocation in the prospectus is HalalChain 20%, Islamic Coin (ISLM) 15%, Tezos (XTZ) 15%, Marhaba DeFi (MRHB) 15%, Celo (CELO) 15%, SolarCoin (SLR) 10% and ZakatDAO 10%. What the prospectus does not provide is any named Shariah scholar, supervisory board, fatwa or third-party certificate; it instead tells investors that 'consultation with Islamic scholars and financial advisors is recommended.' Treat the halal label as a self-declared screen by a crypto fund manager, not an independently certified one, and remember that crypto itself remains contested among scholars.
Shariah oversight disclosed by Boston Trading Co
Self-declared Shariah screen in the RAFAH prospectus (riba, gharar and haram-industry exclusions). No named scholar, supervisory board, fatwa or third-party certificate published.
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Marketed by Boston Trading as the world's first halal crypto fund (announced February 2025)
- Prospectus screen: no interest-based platforms; no alcohol, gambling, pork or adult entertainment; focus on profit/loss-sharing and ethical finance
- Sample allocation leans on Islamic-finance and inclusion tokens: HalalChain, Islamic Coin, Marhaba DeFi, ZakatDAO, Celo, Tezos, SolarCoin
- Done-for-you managed fund: invest in fiat from a bank account, no wallet setup; 401(k), Roth IRA, trust and company structures accepted
- Unit price published monthly (US$78.71 at 30 September 2026)
- US$10,000 minimum with US$1,000 top-ups; no general lock-in, 5-7 year suggested horizon
Cost and terms
US$10,000 minimum, top-ups from US$1,000. Management fees run 1% to 3% p.a. depending on the fund; the Bostoncoin-family funds charge a 2% MER plus a performance fee on returns above benchmark (provider example from Feb 2025: a 100% fund return carries a 12% total fee, investor nets 88%). No general lock-in; redemption terms per fund documentation. Free discovery call or US$60 private consultation before investing.
How it compares
Other investing providers we list in Canada, ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| Boston Trading Co RAFAH Halal Crypto Fund (this page) | Managed digital-asset fund (pooled, accredited-only) | No Public Review | every province | — |
| Manzil Wealth Management | Wealth Management | Formal Board | every province | A |
| Assad Wealth Management Wealth Management | Wealth Management | No Public Review | 10 provinces | — |
| ShariaPortfolio Wealth Management | Wealth Management | Third-Party Certified | 4 provinces | — |
| SPFunds SP Funds S&P World ETF | Index-based | Third-Party Certified | 10 provinces | — |
Other Boston Trading Co products
- OYSHER (OYSH) Kosher Crypto Fund
Investing · Managed digital-asset fund (pooled, accredited-only)
- DARTcoin (DART) Higher-Volatility Crypto Fund
Investing · Managed digital-asset fund (pooled, accredited-only)
- ASHIRVAD (ASHIR) Dharmic Crypto Fund
Investing · Managed digital-asset fund (pooled, accredited-only)
- Bostoncoin (BOS) Diversified Crypto Fund
Investing · Managed digital-asset fund (pooled, accredited-only)
- POLLYcoin AI (POLLY) Lower-Volatility Crypto Fund
Investing · Managed digital-asset fund (pooled, accredited-only)
Where it's available
Boston Trading Co lists the RAFAH Halal Crypto Fund as available in every province.
Availability may vary by product and can change; verify with Boston Trading Co before applying.
Frequently asked questions
Is the Boston Trading Co RAFAH Halal Crypto Fund halal?
' Its published selection criteria exclude interest-based platforms; avoid alcohol, gambling, pork and adult entertainment; focus on profit/loss-sharing and ethical finance; and favour environmental sustainability and financial inclusion. The sample allocation in the prospectus is HalalChain 20%, Islamic Coin (ISLM) 15%, Tezos (XTZ) 15%, Marhaba DeFi (MRHB) 15%, Celo (CELO) 15%, SolarCoin (SLR) 10% and ZakatDAO 10%. Contract structure: Managed digital-asset fund (pooled, accredited-only). Shariah oversight disclosed by Boston Trading Co: No Public Review. HalalWallet reports what the provider documents; we do not certify products.
How does the Boston Trading Co RAFAH Halal Crypto Fund work?
RAFAH is Boston Trading's managed digital-asset fund for Muslim investors, launched February 2025. The prospectus screens out interest-based platforms and alcohol, gambling, pork and adult-entertainment projects, favouring profit/loss-sharing and ethical-finance tokens. Accredited investors only, US$10,000 minimum.
What does the Boston Trading Co RAFAH Halal Crypto Fund cost?
US$10,000 minimum, top-ups from US$1,000. Management fees run 1% to 3% p.a. depending on the fund; the Bostoncoin-family funds charge a 2% MER plus a performance fee on returns above benchmark (provider example from Feb 2025: a 100% fund return carries a 12% total fee, investor nets 88%). No general lock-in; redemption terms per fund documentation. Free discovery call or US$60 private consultation before investing.
What are the minimums for the Boston Trading Co RAFAH Halal Crypto Fund?
As published by Boston Trading Co: minimum investment US$10,000 (top-ups from US$1,000); accredited / equivalent Canadian investors only. Confirm current requirements with Boston Trading Co before applying.
Where is the Boston Trading Co RAFAH Halal Crypto Fund available?
Boston Trading Co lists this product as available in every province. Availability can change and may differ by province; verify directly with Boston Trading Co.
What are the alternatives to the Boston Trading Co RAFAH Halal Crypto Fund?
In the same category we also list Manzil Wealth Management (HalalWallet Index A), Assad Wealth Management Wealth Management, ShariaPortfolio Wealth Management. Compare every option side by side on our Halal Investing hub.
When was this Boston Trading Co product information last verified?
HalalWallet last verified the Boston Trading Co RAFAH Halal Crypto Fund details against Boston Trading Co's published materials on 2026-10-07. Rates, fees, and availability can change after that date.
How to use this comparison: HalalWallet is an independent educational comparison platform - by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-10-07
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