The Ontario Securities Commission has approved an application to launch an Exchange Traded Fund (ETF) for Bitcoin, filed by Evolve.
The Evolve Bitcoin ETF was approved for the second time in a week – on February 12, the Canadian regulator approved an application to launch the Purpose Bitcoin ETF. The new fund is very similar to the Purpose Bitcoin ETF – it will also be listed on the Toronto Stock Exchange, while custodian services will be provided by Cidel Trust and the Gemini cryptocurrency exchange. The auditor will be Ernst & Young consulting firm.
Apparently, other cryptocurrency ETFs will be approved in Canada in the near future. Such applications, in addition to Purpose Investments and Evolve Funds Group, were submitted by Horizons ETF Management, Arxnovum Investments and Accelerate Financial Technologies.
At the same time, the US Securities and Exchange Commission (SEC) is in no hurry to give permission to launch ETFs. Earlier, the CEO of Ark Investment Management Catherine Wood (Catherine Wood) expressed confidence that in order to obtain ETF approval for Bitcoin in the United States, the capitalization of the first cryptocurrency must reach at least $ 2 trillion.
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