Canada Approves Three Ethereum ETFs, Ether Funds Set to Launch on TSX Next Week – Finance Bitcoin News

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Canada is approving cryptocurrency exchange-traded funds (ETFs) faster than the United States. After approving three bitcoin-based ETFs, the country has now approved three ether-based ETFs. On the 20th. In April 2021, three Ethereum ETFs will make their Canadian debut on the Toronto Stock Exchange (TSX).

Three Ethereum ETFs ready for launch in Canada next week

In February, Bitcoin.com News reported on the launch of the first exchange-traded bitcoin fund in North America. A few days later, a fund called Target Bitcoin ETF captured massive volume, with $165 million traded at the time. Three new Ether-based ETFs are offered by CI Global Asset Management, Target Investments and Evolve ETF. All three companies will trade on the Toronto Stock Exchange (TSX) on Tuesday.

Target and Evolve are already sponsors of the crypto ETF, and CI Global Asset Management plans to join the faction. CI Global is working with billionaire Mike Novogratz, an investor in Galaxy Digital. The Novogratz organization has also submitted an application for an exchange-traded bitcoin fund that will seek a US listing with regulatory approval.

Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, tweeted three claims on Friday.

Canada on Tuesday approved the launch of three Ethereum ETFs, Balchunas writes. That seems fairer than giving Goal a decisive lead again. The SEC will do the same here, he added.

Canadian approval of thecrypto ETF rises toin the US.

Ethereum is doing very well in the cash markets, trading at over $2,400 each this weekend. The digital asset reached its all-time high on the 16th. April 2021 with a value of $2,533 per ETH. Ethereum is up 1,317.64% in the past 12 months and 13.3% this week. Evolve’s prospectus indicates that the ETF will trade under the ETHR ticker. The ETF will use the CF Reference Rate for Ether in dollars (ETHUSD_RR).

ETHH Special Ethers are physically settled using the three unique blocks ETHH, ETHH.B, and ETHH.U. ETHH Special Ethers will use CAD and ETHH.U will use USD. CI Global Asset Management and Galaxy’s digitally supported ETFs are traded in USD and CAD and on the TSX.

With three bitcoin-based ETFs and three ether-based ETFs approved in Canada, the country’s regulators seem optimistic about these investment vehicles. Unlike the US Securities and Exchange Commission (SEC), which has not yet approved the US ETF, but has eight applications on its desk.

What do you think of the three Ether ETFs approved for inclusion in next week’s TSX list? Let us know what you think in the comments below.

Tags in this story

Bitcoin ETFs, CAD, Canada, CI Global Asset Management, crypto, etfs, ETH, ETFs ETH, ETH exchange traded fund, Ethereum, Ethereum (ETH), Evolve, exchange traded funds, Galaxy Digital, target, USD

Photo credit: Shutterstock, Pixabay, Wiki Commons

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