Less than a month after becoming the second firm to secure approval from Canadian regulators for a Bitcoin exchange-traded fund, Evolve Funds Group has filed for an Ether ETF.
The company looks all set to debut a similar product for Ethereum, the second biggest cryptocurrency.
According to the press release, a preliminary prospectus with Canadian regulators has been filed for approval to begin trading this new product. If approved, the Ether ETF will be traded under the “ETHR” ticker.
Also mentioned in the announcement, the proposed Ether ETF will offer denominated unhedged units for both the US dollar and Canadian dollar units.
Elliot Johnson, the chief operating officer and chief investment officer of Evolve, on the decision to move forward with an Ether ETF:
“Ether is the building block for a revolution in digital finance which is still in its infancy. Ethereum is the most actively used blockchain with Ether being used to pay for transaction fees and computational services.”
Getting back to the Bitcoin ETF, it saw an explosive debut in Canada. Trading of the Purpose Bitcoin ETF reached over half a billion dollars in assets under management less than a week after its lunch.
Be interesting the numbers Ethereum manages to pull.
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