This week the first Ethereum ETF was traded on the Toronto Stock Exchange. There are three Ether ETFs and combined they hit a trading volume of $141M so far.
Canda already has three Bitcoin ETFs and last week three applications for Ethereum ETFs were approved. The companies had filed for the new financial asset were Purpose Investments, Evolve ETFs, and CI Global Asset Management. After the approval, they all started trading on Toronto’s stock exchange (TSX) this Tuesday.
An ETF is a product that allows investors to buy the stocks of a certain asset without actually owning it. They can trade the shares of the cryptocurrencies as usual. One of the positives is that the investors don’t have to worry about the storage of passwords.
The results are impressive. CI Global Asset Management (which is partnered with Galaxy Digital) traded over $22 million on its first day. Now it has 82M.
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