As a follow up to the firms Bitcoin ETF announced two weeks ago, it seems Evolve ETF’s is looking to produce more crypto-related funds. The company this morning announced that it has filed a preliminary prospectus for the Ether ETF, which will provide investors exposure to the second largest cryptocurrency by market capitalization.
It appears however that Evolve will be second to the market with a digital currency ETF yet again, as CI Global Asset Management late last week filed for the first Ethereum-focused ETF that will hit the market. Nonetheless, the company is making itself known as providing investors access to alternative assets.
The objective of the Ether ETF, or ETHR, is to provide exposure to the daily price movements of Ether in US dollar terms. The fund is to be based on a once a day index price of the digital currency, with investments conducted on a passive basis. Inherently, it means that the fund will not be actively managed, nor will it be hedged.
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ETHR is to be offered in both US and Canadian dollar denominated units.
Information for this briefing was found via Sedar and Evolve ETFs. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
