CI Global Asset Management has filed an application with Canadian regulators to create an Ether Traded Fund (ETF). If approved by the CI, the Galaxy Ethereum ETF will be the first of its kind in the world to invest directly in ETH.
The company expects to bring the ETF to the Toronto Stock Exchange, where it will be listed under the ticker ETHX. Galaxy Digital Capital Management LP will act as co-manager and execute transactions on behalf of clients.
“Ethereum is the main contender for the Web 3.0 baseline, and ether is a growth asset and provides investors with access to a variety of decentralized applications,” Galaxy Digital founder Mike Novogratz said in today’s announcement.
CI Global hopes that since the beginning of February, two bitcoin ETFs have been listed in Canada and have attracted significant interest from the stock market. The company also intends to launch its own Bitcoin ETF in partnership with Galaxy Digital.
Earlier this month, Ether futures were launched on the Chicago Mercantile Exchange (CME). The cryptocurrency rate updated highs above $ 2,000 on February 20, but has since corrected to $ 1,600.
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