Evolve Becomes Second Canadian Issuer to Win Approval for Bitcoin ETF
It may encourage U.S. regulators to approve their first bitcoin exchange-traded fund.
If approved, the ETF would trade on the Toronto Stock Exchange under the ticker “ETHX.”
The bank says its VCAD stablecoin is the first digital currency issued by and backed by deposits with a North American bank.
The fast-growing Purpose Bitcoin ETF was projected to hit $1 billion by the end of this week, but as of Friday the assets were less than $700 million.
One analyst said the ETF could reach $1 billion in assets under management by the end of next week.
The Canadian fund has experienced a flurry of demand but in the U.S. a bitcoin ETF is an unrealized desire.