The world’s first ether exchange-traded fund (ETF) may be on the way, after CI Global Asset Management filed a preliminary prospectus in Canada on Thursday.
- If approved, the ETF would trade on the Toronto Stock Exchange (TSX) under the ticker “ETHX.”
- Galaxy Digital Capital Management LP will act as the ether sub-adviser and execute trading on behalf of the ETF.
- ETHX will invest directly in ether with its holdings priced using the Bloomberg Galaxy Ethereum Index, owned by Bloomberg Index Services.
- “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,” said Mike Novogratz, chairman and CEO of Galaxy Digital, in the announcement.
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