Canadian Securities Regulators today approved world’s first Ethereum ETF with lowest Fees. CI Galaxy Ethereum ETF (ETHX) will be live on Toronto Stock Exchange on April 20, 2020 post TSX’s final approval. CI Global Asset Management (CI GAM) also manages a CI Galaxy Bitcoin ETF(BTCX) trading at Toronto Stock Exchange.
Bitcoin ETFs are not a new thing and Canadian Security Regulators have already approved Bitcoin ETFs trading on TSX. The competition for Bitcoin ETF in US in on peak as many big firms like VanEck, WisdomTree, Galaxy Digital etc. already in the race. The SEC is ordered to reply back to VanEck Bitcoin ETF application by 1st week of May.
While Ethereum is second dominant cryptocurrency, the institutional interest in Ether as Asset is increasing day by day. The best example of this is huge success of Grayscale’s Ethereum Trust Fund (ETHE). If we look at stats ETHE has given 59% returns to investors year to end and the ETH holdings year to end have gone up by 227%.
While, ETHE is not an ETF in any manner but its success has paved the way for finance companies to launch an Ethereum ETF for their customers.
Source : https://coingape.com/canadian-securities-regulators-approve-worlds-first-ethereum-etf/