Three companies—Purpose Investments, Evolve and CI Global Asset Management—have received regulatory approval to launch exchange-traded funds tracking the performance of Ether, the cryptocurrency tied to the Ethereum blockchain. All expect to start trading Tuesday. (The Logic)
Three companies—Purpose Investments, Evolve and CI Global Asset Management—have received regulatory approval to launch exchange-traded funds tracking the performance of Ether, the cryptocurrency tied to the Ethereum blockchain. All expect to start trading Tuesday. (The Logic)
Talking point: Canada is once again blazing a trail in the world of cryptocurrency ETFs, which remove barriers to entry by allowing investors to easily buy and sell shares through traditional brokerage accounts and add them to retirement portfolios. Purpose launched the world’s first physically settled Bitcoin ETF in February, with competitors Evolve and CI following suit shortly after. Since then, Canada’s Bitcoin ETFs have shaken up the market, pushing global funds once able to charge healthy premiums of 30 per cent or more to a discount, and the largest—Grayscale Bitcoin Trust—announcing that it also plans to convert to an ETF.
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Som Seif is CEO of Purpose Investments, which received approval for an Ether ETF on the TSX.
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