World's Primary Ethereum ETF Might Get Approved Soon.

World's Primary Ethereum ETF Might Get Approved Soon.

2021-02-25 | Mike Hallen

World's Primary Ethereum ETF Might Get Approved Soon.

The world’s primary Ethereum ETF [Exchange-traded Fund] might soon be possible after CI Global Asset Management filed a legal prospectus within Canada today. Within the official announcement, the firm revealed that its proposed “CI Galaxy Ethereum ETF” would be the primary ETF within the world to take a position directly in Ethereum [ETH, -3.34%], the native cryptocurrency of the Ethereum network. If approved, the ETF would trade on the Toronto stock exchange [TSX] under the ticker “ETHX.” Galaxy Digital Capital Management LP will act as the ether sub-adviser and execute trading on behalf of the ETF. ETHX will invest directly in Ethereum with its holdings priced employing the Bloomberg Galaxy Ethereum Index, owned by Bloomberg Index Services. “Ethereum is the leading candidate to be the bottom layer of Web 3.0, and ether is a growth asset that gives investors exposure to the explosion of DApps [Decentralized Applications],” explained Mike Novogratz, chairman, and CEO of Galaxy Digital, within the announcement. The ether ETF may have a good chance of being approved. Earlier last week, two bitcoin ETFs were listed in Canada. CI Global also recently filed a herring for a Bitcoin [BTC, +1.04%] ETF, which might even be in partnership with Galaxy Digital.

Leave a comment

Your email address will not be published. Required fields are marked *

Top 7 cryptocurrency overview

Best trading tool for cryptocurrency

2022 Top cryptocurrency Price Prediction List