Canadian digital asset manager 3iQ Corp and investment firm CoinShares have launched an ether exchange-traded fund (ETF), now trading on the Toronto Stock Exchange (TSX).
- In an announcement Friday, 3iQ said the 3iQ CoinShares Ether ETF will trade in Canadian dollars under the ticker ETHQ and in U.S. dollars under the symbol ETHQ.U.
- Ether is the second-largest digital asset behind bitcoin with a market capitalization of over $300 billion as of April 22.
- The ETF will give investors exposure to the daily price movements of ether and the opportunity for long-term capital appreciation, said the firm.
- 3iQ and CoinShares announced their intention to launch both ether and bitcoin ETFs on the TSX earlier this month.
- On Monday, they launched the 3iQ CoinShares Bitcoin ETF, the fourth such bitcoin ETF to trade in the nation of 38 million.
- As reported by CoinDesk, on April 16, three ether ETFs, launched by Purpose Investments, CI Global Asset Management and Evolve ETFs, all received approval and began trading on the TSX on April 20.