After Ethereum was „born“ in Canada, the world’s first Ethereum ETF is now seeing the light of day here.
The Canadian investment firm 3iQ will go public next week for the world’s first Ethereum ETF, an exchange-traded Ethereum mutual fund.
The „Ether Fund“ is to be traded on the Toronto Stock Exchange (TSX) under the symbol QETH.U
The maximum offer for the launch is 100 million US dollars, the offer phase is open until December 10, 2020. Asset management company 3iQ manages more than 400 million Canadian dollars, with the focus of its investment products on the cryptocurrencies Bitcoin, Litecoin and Ethereum.
In an accompanying press release on Thursday, 3iQ explains how the new Ethereum ETF came about.
„The concept behind Bitcoin Rush was conceived in Canada in 2013 and then expanded by developers around the world,“ said the investment firm, referring to the roots of the crypto project.
In fact, Ethereum co-founder and figurehead Vitalik Buterin is a Canadian Russian who moved to Toronto with his family when he was 6 years old
In Canada’s neighboring country USA, investors have so far shown great interest in Ethereum investment products. Although these are now more than 500% above the respective market value of Ethereum, interest in corresponding financial products such as the Grayscale investment fund ETHE is increasing.
Such investment funds are the means of choice for many investors if they do not want to directly buy and / or hold the associated cryptocurrency themselves.
Finally, investors can look forward to more and more crypto investment products. Thus, the asset management vaneck in November in Germany has the vaneck Vectors Bitcoin ETN launched while 3iQ in the same month a Bitcoin funds in Canada initiated has.