Canada Approved Ethereum ETFs

After the approval of three separate Bitcoin ETFs in Canada two months ago, now Ethereum ETFs have been given the green light.

Canada approved Ethereum ETFs. ETH-based exchange traded fund (ETF) applications made by CI Global Asset Management, Purpose Investments and Evolve companies were well received. Companies will start accepting investors for the funds in the next few days. These ETFs are expected to be listed on the Toronto Stock Exchange (TSX) upon the approval of the TSX on April 20. CI Galaxy ETF charges 0.4 percent as a management fee, while Purpose will charge 1 percent. It is reported that one of them, 3iQ Ethereum ETF, may also be approved later today. ETFs, in particular, allow institutional investors to invest indirectly in cryptocurrency without facing the risks of purchasing the underlying asset directly. ETFs are also the gateway to the cryptocurrency market for such funds and organizations. Demand for cryptocurrency ETFs is evident in the interest shown in Purpose Bitcoin ETF, which was approved two months ago. In a short time, the total value of the assets under the management of this ETF was recorded as $ 1 billion 200 million. The amount held in the fund in BTC amounted to 18 thousand 330 Bitcoins. Ethereum, which has gained value in recent days, has exceeded the level of $ 2,500 for the first time today.