TORONTO, April 16 (Reuters) - Canadian asset manager Purpose Investments Inc said on Friday that it has been cleared by Canadian securities regulators to launch the first direct custody Ether exchange traded fund in the world. The Purpose ETF is designed to provide investors with exposure to the cryptocurrency by investing directly in physically settled Ether tokens, Purpose Investments said. In February, the company launched the world’s first Bitcoin ETF. (Reporting by Fergal Smith; Editing by Leslie Adler)