Huge development for Ethereum has resulted. After the approval of three different Bitcoin ETFs in Canada two months ago, Ether ETFs are now approved.
Two months after the Ontario Securities Commission (OSC) approved the Bitcoin (BTC) ETF, this time it approved the first Ethereum ETF in history. The development was announced in a press release by Toronto-based asset management company Purpose Investments. In the statement, it was announced that for the first time in the world, an Ethereum ETF received approval from the Canadian regulator. Thus, Ethereum took its place in history as the second cryptocurrency to receive ETF approval.
Som Seif, CEO of Purpose Investments, made the following statement:
“While Bitcoin attracted great attention as it was the first major cryptocurrency, what the Ethereum ecosystem represents is one of the most exciting new technology visions in society today.”
Raj Lala, CEO of Evolve ETFs, commented on the developments as follows:
“Similar to Bitcoin, investors will now be able to trade Ethereum as simply as buying shares through their banks or brokerage firms. Ethereum will offer daily liquidity, transparency and security through a regulated ETF structure.
After its incredible start in February, Purpose Investments’ Bitcoin ETF has surpassed $ 1 billion earlier this month. This can be seen as an indication that the developments are very positively received by investors.