Primary Ethereum ETFs Authorized in Canada

by in Cryptocurrency News

Ethereum ETFs approved

Canada was the first country to approve BTC ETFs in February. Now, it became the first to authorize Ethereum ETFs too.

Related: ARK Invest Purchased $110 M Coinbase Shares

Today, April 17, the republic's regulators granted three requests: They come from Purpose Investments, Evolve ETFs, and CI Global Asset Management.

The first two firms were the initial ones to introduce Bitcoin ETFs. All 3 Ethereum-based products will be accessible on Toronto’s stock exchange on April 20. The funds provide the option to get ETH exposure.

Purpose Investments stated it will sell three varieties of stocks: Can$ currency-hedged units (ETHH), Can$ non-currency hedged units (ETHH.B), and US$ units with stock units (ETHH.U).

Galaxy Digital Asset Management is the sub-advisor of CI. Their stocks will be presented as ETHX.B in Can$ (non-hedged) and ETHX.U in US$.

Evolve’s ETF will run on the TSX as ETHR for non-hedged funds and ETHR.U for USD hedged units.

Ethereum price reached a new all-time high on April 16, breaking above $2500. Currently, it trades at above $2430 with its market cap over $282,6 Billion. Recently the token's options market surpassed 3.3 billion. On April 12, Ethereum hard fork Berlin which is an upgrade aimed to optimize the system was launched.