The world’s inaugural ETF, supported by the physically-established Ether, has been launched by Purpose Investments. The world is about to witness an unprecedented history as Canadian Asset Management company, Purpose Investments has at this moment launched the world’s first-ever Ethereum ETF, on April 20, 2021 press release has revealed.
A Landmark Moment
The launch of the world’s first-ever Ethereum ETF by Purpose Investments is expected to be a landmark moment that would usher in a bold new era of opportunities and investors for both crypto and stock market traders.
The ETF shares are reported tied to the physically-established Ether, as opposed to the regular derivatives, and it is expected to begin trading on the Toronto Stock Exchange later in the day.
According to the investment firm’s Chief Executive officer, the Ethereum ETF is expected to give a wider range of people free access to the second-largest cryptocurrency in the world. The CEO, in his statement, described today as a massive day for investors.
The processes of purchasing and owing of Ether would be made simplified due to its democratization. The CEO further stated that Ether is well-placed to maintain its growth trajectory and expressed his belief that it was a leading digital asset boasting of the most potentials of any blockchain technology.
Ethereum ETF Given The Green Light
Canadian financial regulatory authorities gave the authorization for the trading of Ethereum ETF to commence after it received three applications.