HomeCoinsEthereum (ETH)Three ether ETFs begin trading on Toronto Stock Exchange

Three ether ETFs begin trading on Toronto Stock Exchange

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Three ether (ETH) exchange-traded funds (ETFs) began trading on the Toronto Stock Exchange on Tuesday.

The ETFs are by Canada-based asset managers: Purpose Investments, CI Global Asset Management, and Evolve Funds Group.

The three firms received the green light from the Ontario Securities Commission last week.

The move follows shortly after the regulator approved the world’s first bitcoin ETFs by the three firms earlier this year.

All three ETFs — the Purpose Ether ETF, the CI Galaxy Ethereum ETF, and the Evolve Ether ETH — provide exposure to the price of Ethereum’s native ETH without the need to possess it.

CI and Evolve have waived off management fees until June 15 and May 31, respectively. The former charges 0.40% and the latter charges 0.75% of net asset value, or NAV.

Purpose, on the other hand, charges a 1% management fee and has already accumulated C$12 million ($9.5 million) worth of assets for the ETH ETF, according to its website.

Evolve has gathered around $2 million in assets under management (AUM) for its ETH ETF. CI’s AUM information isn’t available on its website yet.

All three firms also operate bitcoin ETFs. Meanwhile, in the U.S., a number of companies have filed applications for bitcoin ETFs or refiled previous ones with the Securities and Exchange Commission. Several of those submissions are now under active consideration by the agency.

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