The first Ethereum ETF set to be traded on Toronto Stock Exchange (TSX) after a formal document was filed with the SEC
Ethereum ETF to be listed on TSX
After CI Global Asset Management has submitted its prospectus, the first stock trading product officially designated as an ETF will be listed on the Toronto Stock Exchange (TSX).
Kurt MacAlpine, CEO of CI Financial, the parent company of CI GAM, said: “Cryptocurrencies are transforming the financial world, and we are excited to launch the world’s first ETF investing directly in Ether, one of the most highly valued cryptocurrencies,”
Upon approval to invest directly in eth, the new ETF will trade under the ETHX ticker symbol.
The shares are valued in USD using the Bloomberg Galaxy Ethereum Index (“ETH Index”).
Mike Novogratz, Chairman and CEO of Galaxy Digital Holdings, said, “Ethereum is the leading candidate to be the base layer of Web 3.0, and Ether is a growth asset that provides investors exposure to the explosion of decentralized applications,”
The debut of an official ETF can put pressure on the SEC as it has been proven that there is no undue risk of listing.
If the US Securities and Exchange Commission approves the ETF, it will actually be an updated listing as it is traded on the larger US exchange.