Blockchain

Ethereum Bonanza allowed as three North American ETH ETFs inside at some point

April 17, 2021 7:48 am & nbspUTC

| Updated:

April 17, 2021 at 7:48 am

By& nbspClark

Canadian stock market investors will quickly find a wide choice when it comes to ETH ETFs.

While contact strength south of the US-Canada border continues to be problematic, Canadian investors will soon have a variety of ways to contact ETH via an ETF, as regulators accepted three different Ethereum ETFs in a single day.

Drive Investments, Change ETFs and CI Global Asset Management were accepted by Canadian regulators to launch ETFs supported by ETH today. The ETFs will be the first ETH ETFs in North America and among the first in the world.

Some viewers noted that all three, accepted at the same time, may have been part of an effort not to give Drive an "unfair advantage". Purpose seemed to gain an edge after the enthusiastic general-purpose investment ETF launched, the first North American BTC ETF that quickly soared to $ 1.3 billion in AUM while competitors waited for confirmation. The Rival Change Fund Group's BTC ETF was only able to gain USD 100 million in AUM, even though it was launched just 2 days later as a purpose & contribution of 25% less management fees.

In a tweet, a Bloomberg reporter suggested that ETF funds CL Galaxy & the Drive would start trading on April 20 – a date Elon Musk would like given his connection to marajuana culture. Likewise, Evolve's ETH ETF, for which they first marched in March, will start trading on the same day.

The Canadian stock market has previously shown a significant appetite for exposure to crypto assets. Previous ETH exchange-traded products resulted in market freezes on the first day of trading, and & Purpose's BTC ETF cracked $ 100 million on the first day of trading.

Clark

Head of Technology.

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