CI Global Asset Management, the money-managing arm of Canadian investment firm CI Financial, has applied to launch an exchange-traded fund on the Toronto Stock Exchange that would be the first of its kind to invest directly in Ether, the cryptocurrency tied to the Ethereum blockchain. (The Logic)

Talking point: Bitcoin has received most of the attention for its price run-up in 2021, tied to increased interest from big names in the mainstream financial system. But the price of Ether has seen massive gains, too, more than doubling since the start of the year. Ethereum has seen recent success as the blockchain of choice for DeFi, or “decentralized finance,” which allows users to design and trade their own derivative-like products for cryptocurrencies. It’s also the network powering the majority of non-fungible token initiatives, which allow creators to sell scarce digital collectibles and art. Canada recently approved the world’s first two physically settled Bitcoin ETFs, which give investors exposure to the cryptocurrency without having to buy and secure it themselves.