Apr 17, 2021 07:48 UTC
Apr 17, 2021 at 07:48 UTC
Canadian stock market investors will rapidly have an extensive variety of choices to pick from when it comes to ETH ETFs.
While ahead contact strength still be problematic south of the US-Canada border, Canadian investors will soon have a host of choices to select from to gain contact to ETH through an ETF as regulators have accepted 3 dissimilar Ethereum ETFs in a sole day.
Drive Investments, Change ETFs, & CI Global Asset Management were all accepted by Canadian regulators to launch ETH backed ETFs today. The ETFs will be the 1st ETH ETFs in North America, & amongst the first in the world.
Some spectators noted that all 3 being accepted at once might have been part an exertion not to give Drive an “unfair advantage”. Purpose seemed to gain an advantage after the launch of the enthusiastically general-Purpose Investments ETF, the first North American BTC ETF which rapidly swelled to $1.3 billion in AUM while competitors waited for endorsement. Rival Change Fund Group’s BTC ETF only achieved to entice $100M in AUM, notwithstanding launching only 2 days later than Purpose & contribution 25% less management fees.
In a Tweet, a reporter for Bloomberg supposed that the CL Galaxy & the Drive ETF funds will start trading on 4/20 — a date he supposed would please Elon Musk, given its marajuana culture connection. Similarly, Evolve’s ETH ETF — which they first marched for in March — will start trading on the similar day.
The Canadian stock market has previously demonstrated a significant appetite for contact to crypto assets. Previous exchange-traded ETH products led to market halts on the first day of quote, & Purpose’s BTC ETF cracked $100M in its first day of trading.