2021-3-3 20:22 |
Evolve Funds Group has filed for an Ether exchange-traded fund (ETF) with the Canadian Securities regulators.
After launching the Bitcoin ETF (EBIT) on the Toronto Stock exchange, just a day after the first Bitcoin exchange-traded fund ever — Purpose Bitcoin ETF which gained the first-mover advantage and raised $421 million in just two days of its debut.
As a result, last week Evolve lowered the management fee on EBIT to attract investors. EBIT currently has $40 million in assets under management, as at March 1, 2021.
Now, Evolve with $1.7 billion in AUM is aiming to be the first mover in Ether ETF and has filed a preliminary prospectus to provide investors exposure to the world’s second-largest cryptocurrency.
The price of Ether is currently trading around $1,550, up over 113% YTD. Raj Lala, President, and CEO, at Evolve said,
“Ether is a digital asset that is not issued by any government, bank or central organization and was intended to complement rather than compete with bitcoin.”
ETHR aims to provide investors with exposure to the daily price movements of the U.S. dollar price of Ether which will be based on the ETHUSD_RR, a once-a-day benchmark index price for Ether administered CF Benchmarks which is currently the settlement index for futures contracts listed by CME Group as well.
ETHR will offer Canadian dollar-denominated unhedged units (“CAD Units”) and U.S. dollar-denominated unhedged units (“USD Units”). Elliot Johnson, CIO, and COO at Evolve says,
“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.”
Ethereum/USD ETHUSD 1,489.9234 -$46.34 -3.11% Volume 22.27 b Change -$46.34 Open$1,489.9234 Circulating 114.89 m Market Cap 171.18 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=ETH&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~ETH~USD"); The post Evolve Files for a Ethereum ETF After Launching its Bitcoin ETF Last Month first appeared on BitcoinExchangeGuide.Similar to Notcoin - TapSwap on Solana Airdrops In 2024
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