Canada Approves Two Ethereum ETFs in One Day

The Ethereum ETF application has been approved in Canada, where Bitcoin exchange-traded funds (ETFs) are already listed. The approved Ethereum ETFs were submitted by Purpose Investments and CI Global Asset Management, respectively. Purpose Ether ETF is operated by Purpose, and the actual Ethereum invested and owned by the ETF in Canada will be managed by Gemini as a custodian. Purpose will use the TradeBlock price index acquired by CoinDesk. CI Global plans to list the “CI Galaxy Ethereum ETF” on April 20 after approval by the Toronto Stock Exchange. The management fee for the ETF is 0.4%. Multiple Bitcoin ETF applications have been approved in Canada earlier this year. Bitcoin ETFs have been listed on the Toronto Stock Exchange and trading has already begun. Meanwhile, the US Securities and Exchange Commission (SEC) has so far rejected all Bitcoin ETF listing applications in the United States. #bitcoin #assetmanagement


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