• Sun. May 19th, 2024

First Multi-Crypto ETF Launches In Canada

Hassan Mehmood

ByHassan Mehmood

Oct 5, 2021

When it comes to issuing an exchange-traded fund Canada is the most prominent country there is to issue not only one but various ETFs around Bitcoin over the years. The Ethereum ETFs in Canada are also very popular, and it just seems welcoming about a country when it has no problem with issuing an exchange-traded fund for dedicated crypto.

On the other hand, in the US, exchange-traded funds are not a very ripe subject, the Securities and Exchange Commission has been provided with various requests and applications over the years to issue a Bitcoin-oriented ETF, but none of them has made through. It is as if America is not willing to go with an exchange-traded fund for either Bitcoin or any other cryptocurrency for that matter.

On the other hand, Canada has, for the first time, approved a multi-crypto ETF that features both Bitcoin and Ethereum. This very ETF has been provided and developed by EvolveETF, and this is the country’s first multi-crypto exchange-traded fund.

Multi-Crypto ETF Pegs To Bitcoin And Ethereum

The two largest cryptocurrencies by market cap, which are Bitcoin and Ethereum, are covering this exchange-traded fund. This exchange-traded fund is not only active but has already started trading on the Toronto Stock Exchange. It is trading under the ticker symbols of ETC, and it will not be backed by Bitcoin or Ethereum directly, but it will be holding shares of EvolveETF single crypto funds, which it is currently working on.

These funds, in reality, contain the Bitcoin and Ethereum dedicated ETFs, and that is why it has become a compounded ETF rather than being a simple one. The USA, on the other hand, has not even issued a single ETF as for this multi-crypto ETF, it is not definitely the next thing that the Securities and Exchange Commission could have on their agenda. This new ETF will definitely be providing the investors with a diversified approach because there are some who are having difficulties choosing between Bitcoin and Ethereum, but this way, they can go with this multi-crypto exchange-traded fund.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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