Wednesday, July 28, 2021
Home Crypto News Market Canada Approves Launch of World's First Ethereum Based ETF

Canada Approves Launch of World’s First Ethereum Based ETF

- Advertisement -

Canada is making a name for itself in cryptocurrency market. Two months after approving the world’s first Bitcoin ETF, Canadian regulators have approved the world’s first Ethereum exchange-traded fund (ETF).


The approval was given to Toronto-based asset management firm, Purpose Investments. Recall that the company was also the first to receive Bitcoin ETF approval from the Ontario Securities Commission (OSC) back in February.

According to the official announcement on April 16, Purpose will manage the ETF, and Ether Capital Corporation will act as a special advisor to Purpose.

Purpose Investments CEO Som Seif expressed his delight, according to him, Ethereum is one of the most exciting technologies in the crypto space.

 

The CI Galaxy Ethereum ETF Fund plans to charge a management fee of 0.4%.

The custodian of the Evolves Ether ETF is Gemini. On April 20, the company plans to launch the instrument on the Toronto Stock Exchange.

The price of ether has been rising over the past week, rising by 35.9% due to the Berlin hard fork and a host of events, reaching an all-time high. The situation is expected to improve with the introduction of ETFs, which are likely to have a positive impact on the price.

These ETFs will be available on the Toronto Stock Exchange (TSX) by April 20. Recently, Ethereum has attracted a lot of interest from institutional investors and corporate structures, as the second largest cryptocurrency in the world by market capitalization revolutionizes the blockchain industry and changes their perception about crypto.

- Advertisement -
Jakkkhttps://thecryptobasic.com/
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade, and write on cryptocurrencies. My basic aim is to provide genuine information to cryptocurrencies readers because crypto is filled with frauds and scams. True information is very rare to get. So I will be providing accurate information about cryptocurrencies topics, that users can trust.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

The Graph to use Polygon for its billing system

Singapore, Singapore, 28th July, 2021, Polygon proof-of-stake (PoS) is an Ethereum scaling solution whose ecosystem attracts the brightest developers from all over the world....

Coca-Cola To Launch First-Ever NFT Collectibles

Coca-Cola and Tafi became partners as Tafi is designing virtual wearables for Coca-Cola's first-ever non-fungible token (NFT) collectibles to celebrate International Friendship Day on...

Binance CEO Aims To Make Binance Regulated Worldwide, Also Daily Withdrawal Limit For Binance Unverified Accounts Reduced And Binance Leverage Trading Limit Reduced

Changpeng Zhao, Binance CEO and Founder, stated that Binance will work with local regulators in order to establish Binance regional headquarters.

Utah Resident, A Dogecoin Fan Selling His Home For Crypto Offers a Generous 10% Discount only If He Is Paid In Doge

According to local TV station KUTV (Video Below), an American citizen from Utah joined the ranks of those selling their property for cryptocurrencies. Utah Resident,...

Panther Protocol Partners with Vegaswap

Midtown, Gibraltar, 27th July, 2021, Panther Protocol, the privacy protocol, has partnered with Vegaswap, the automated market maker (AMM) protocol with multichain support. Vegaswap is...

European Digital Identity: Talao Announces Professional Credential Solution

Paris, France, 27th July, 2021, Talao, a blockchain-based Digital Identity specialist for the Human Resource industry, today announced a professional credential application to transform...

Vechain CEO, Sunny Lu Interview By Fenbushi Capital, Sunny Lu Talks About Partners, Investors And The Three Historic Choices

VeChain CEO, Sunny Lu, was interviewed by Fenbushi Capital for their Distributed Entrepreneurship Column. Sunny talks partners (DNV, PwC), investors (Fenbushi, Fenchain), and the three...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly