Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

The world’s first Ethereum ETF gears up to launch in Canada

Published 02/27/2021, 01:02 AM
Updated 02/27/2021, 01:30 AM
The world’s first Ethereum ETF gears up to launch in Canada

CI Global Asset Management (CI GAM) disclosed on Feb. 25 that it had filed for an Ethereum exchange-traded fund with Canadian authorities. If approved, the CI Galaxy Ethereum ETF would become the world’s first ETH ETF.

The filing was made in collaboration with Galaxy Digital, a renowned cryptocurrency firm lead by Mike Novogratz. While CI GAM will directly manage the ETF, Galaxy Digital will function as the former’s Ethereum sub-advisor. Galaxy Digital is charged with executing Ethereum trades for the ETF.

As per the announcement, the ETF will trade on the Toronto Stock Exchange under the ETHX ticker. Meanwhile, Bloomberg Galaxy Ethereum Index is saddled with the responsibility of providing the price feed for ETH.

Commenting on the development, the Chairman and CEO of Galaxy Digital Holdings Mike Novogratz said:

Ethereum is the leading candidate to be the base layer of Web 3.0, and Ether is a growth asset that provides investors exposure to the explosion of decentralized applications.
Bitcoin

Continue reading on BTC Peers

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.