Three Ether ETFs begin trading on Toronto Stock Exchange

advertisement

Three ether (ETH) exchange-traded funds (ETFs) began trading on the Toronto Stock Exchange on Tuesday.

The ETFs are by Canada-based asset managers: Purpose Investments, CI Global Asset Management, and Evolve Funds Group.

The three firms received the green light from the Ontario Securities Commission last week.

The move follows shortly after the regulator approved the world's first bitcoin ETFs by the three firms earlier this year.

All three ETFs — the Purpose Ether ETF, the CI Galaxy Ethereum ETF, and the Evolve Ether ETH — provide exposure to the price of Ethereum's native ETH without the need to possess it.

CI and Evolve have waived off management fees until June 15 and May 31, respectively. The former charges 0.40% and the latter charges 0.75% of net asset value, or NAV.

Purpose, on the other hand, charges a 1% management fee and has already accumulated C$12 million ($9.5 million) worth of assets for the ETH ETF, according to its website.

Evolve has gathered around $2 million in assets under management (AUM) for its ETH ETF. CI's AUM information isn't available on its website yet.

All three firms also operate bitcoin ETFs. Meanwhile, in the U.S., a number of companies have filed applications for bitcoin ETFs or refiled previous ones with the Securities and Exchange Commission. Several of those submissions are now under active consideration by the agency.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Will Sanctions Drive Russia into the Arms of Cryptocurrencies?

From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC
More