While it may still be difficult to reach south of the US / Canadian border, Canadian investors will soon have a number of options to choose from to access Ethereum (ETH) through ETFs as regulators have approved three different Ethereum ETFs. In a day.

Purpose Investments, Evolve ETFs, and CI Global Asset Management have been approved by Canadian regulators to launch Ethereum-backed ETFs. The ETF will be the first ETH ETF in North America and one of the first in the world.

Some observers have noted that the three, agreed at the same time, may have been part of an attempt to prevent the Purpose from giving an “unfair advantage”. The target appears to have benefited from the launch of ETF Purpose Investments, the first North American ETF, which expanded to $ 1.3 billion in assets under management while competitors awaited approval. The Bitcoin ETF Rival Evolve Fund Group managed to raise only $ 100 million in assets under management despite launching just two days after the purpose and offering a 25% lower management fee.

In a tweet, a Bloomberg reporter said that CL Galaxy funds and Purpose ETF will start trading on 4/20, the date he believes Elon Musk will love, given that this is marijuana’s cultural link. Likewise, Evolve’s ETH ETF, which they first filed for in March, will begin trading on the same day.

The Canadian stock market has already shown a huge interest in cryptocurrencies. Previously traded Ethereum products brought the market to a standstill on the first day of listing, and Bitcoin ETF Purpose raised $ 100 million on its first trading day.

Source: CoinTelegraph