The Ethereum-focused investment company will work with Purpose Investments on projects including its Bitcoin exchange-traded fund, which is set to be the first in the world to launch this week after regulators approved it Friday. (The Logic)
Talking point: Ether Capital is a side project of investment-industry leader Som Seif, who also runs Purpose Investments. Seif won a hot race for the approval of the Purpose Investments Bitcoin ETF, with at least five other Canadian companies filing prospectuses for similar products of their own. Canadian regulators are leading their American counterparts in the decision to approve Bitcoin ETFs, with the U.S. Securities and Exchange Commission yet to sign off on any of the 10-plus requests it’s received from investment companies. The news lends Bitcoin even more mainstream legitimacy at a time when major corporations like Tesla, Mastercard and BNY Mellon are making cryptocurrency-related announcements. All the interest prompted Bitcoin’s price to rise to a record high above US$50,000 Tuesday.
