Canadian firm CI Financial, which manages more than $ 230 billion in assets, has filed an application with the Ontario Securities Commission to launch an Exchange Traded Fund (ETF) on Ether.
According to the document, if the application is approved, the ETF will be listed on the Toronto Stock Exchange. Galaxy Digital will act as an auxiliary advisor – it will be the company that will trade ETH on behalf of the fund. The ETF will receive the ticker ETHX, and the annual management fee will be 1%.
“Ethereum is the most likely candidate for the baseline for Web 3.0, and Ether is a growing asset that enables investors to participate in the decentralized application boom,” said Galaxy Digital CEO Mike Novogratz.
CI Financial is also awaiting approval of the application to launch a Bitcoin ETF. In addition, she already has a CI Galaxy Bitcoin Fund for bitcoin, which manages $ 162 million in assets.
Note that earlier the Ontario Securities Commission approved two exchange-traded funds for bitcoin, but the ETF for ether, if approved, will be the first such exchange-traded product in the world.
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