On Friday CI Global Asset Management, Purpose Investments Inc., and Evolve Funds have received clearance from Ontario Securities Commission to launch Ethereum exchange traded funds (ETFs) in Canada.
These ETFs will be available on Toronto’s Stock Exchange (TSX), which will allow retail investors in Canada to invest directly into the digital asset from 20 April 2021. Ethereum (ETH), which is currently the second-largest cryptocurrency by market capitalisation, is the obvious next choice for institutions looking to get their feet wet in the crypto economy.
While Bitcoin tends to get a lot of attention as it was the first major cryptocurrency, what ether and the Ethereum ecosystem represent is one of the most exciting new technology visions today in society
Som Seif, founder and CEO of Purpose Investments
Three Ethereum ETFs in One Day
All three of these funds were cleared on Friday:
The CI Galaxy Ethereum ETF will trade in Canadian dollars (ETHX.B, unhedged) and in U.S. dollars (ETHX.U). CI GAM is the manager of the ETF and Galaxy Digital Asset Management (“GDAM”) will be the sub-advisor.
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