Just weeks after becoming the first Bay Street institution to offer ETFs, BMO Financial is adding new funds and predicting strong growth in future. The former Banque de Montreal currently has 3 funds trading, and 3 more set to trade in July. According to Rajiv Silgardo, head of BMO’s new ETF unit, the Canadian ETF market is expected to quintuple from today’s CAD 20 billion to over CAD 100 billion by 2016, and BMO may by then offer 30 to 40 funds.

The Canadian market is currently split between BMO, iShares, Claymore, and local leveraged player BetaPro.