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ETH – ETFs Start Trading on Toronto Stock Exchange

  • Three Ether Exchange Traded Funds (ETF) started trading on the stock exchange.
  • Purpose Investments, CI Global Asset Management, and Evolve Funds Group.
  • All three announced plans to release the ETF.

Trading started on Toronto Stock Exchange by three Ether (ETH) exchanges–traded funds (ETFs).

While Bitcoin is the first cryptocurrency that got a lot of attention, now Ethereum has become the most exciting technology in today’s society.

Purpose Investments, CI Global Asset Management, and Evolve Funds Group are the three firms that received permission from the Ontario Securities Commission. However, these three firms also operate as one of the largest cryptocurrency Bitcoin ETFs.

All three announced plans to release the ETF that looks for the popular cryptocurrency in Canadian Market. The ETF is like the investment fund and exchange-traded fund. Even more, the three Ether ETFs include Purpose Ether ETF, CI Galaxy Ethereum Ether ETF, and Evolve Ether ETF include Purpose Ether ETF, CI Galaxy Ethereum Ether ETF, and Evolve Ether ETF.

As an immediate value opportunity for the investors, one of the ETF Evolve Ether is waiving the full 0.75% management fee on Ether till May 21, 2021. Also, the other ETF CI is waiving 0.40 % till June 15, 2021. After the approval of Bitcoin ETF in February that charges the management fees of 1 %, rival Evolve Bitcoin ETF (EBIT) followed  suits and cut its management fees to 0.75%

Furthermore, the ETF will be the first in the world to invest directly in physically settled Ether. More so, the purpose of launching the World’s first Ether ETF is to make investors feel simple and efficient access to one of the largest cryptocurrencies.

The News Crypto Staff

The News Crypto is a group of crypto journalists writing about the latest happenings in the crypto and blockchain industry.

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