Two months ago, Canada launched a Bitcoin ETF and made headlines in the crypto community. Now, it has once again registered history by launching the first Ethereum ETF in the world. In a recent press release, the Toronto-based asset management company introduced the ETH exchange-traded product in the market. The enterprise by the name of Purpose Investment has been cleared by the Canadian securities agency to make the announcement.
The Ontario Securities Commission seems to be in sync with the cryptocurrency program. Meanwhile, the massive institutional holders and funds in America are still waiting to get their approvals from SEC. Som Seif, CEO of the Purpose Investment, shared with media that Bitcoin has taken centre stage in the crypto world. However, Ether and Ethereum are one of the most exciting technologies that are worth exploring.
In a WIRED web interview, a Twitter follower asked Mark Cuban to treat ICOs as the new IPOs. The celebrity investor had been sceptical about the digital assets but has now changed his stance to a more progressive attitude. It seems that Canadian businesses have been taking this advice to their hearts. Thus far, only one crypto exchange, i.e. Coinbase, has been listed as a publically traded company on NASDAQ.
However, across the borders, Canada has started to launch one after another crypto derivatives. This behaviour would cement the durability of the cryptocurrencies as a store of value for a long period. The Ethereum-pegged exchange-traded fund is only getting started on the Canadian Stock Exchanges. The Bitcoin ETF of Purpose Investment has managed to surpass the $1 billion AUM mark earlier this month.
Canada Mining Corporation Getting ready for a NASDAQ Listing
Canada is not only fast on the uptake of crypto derivatives, but it is also getting ready to dive into the profitable field of crypto mining and supplies. In a recent press release, the Canadian BTC mining firm Bitfarms has made the news of its SEC filing with regulators. After the approval from the Securities and Exchange Commission, Bitfarms would become the second crypto-centric enterprise to be listed on NASDAQ.
Emiliano Grodzki, CEO of Bitfarms, believes that the additional income from the listing would help them expand their operations, and the business is excited to seek institutional presence in the United States. The mining corporation has already mapped out a scheme for privately placing shares with US-based business investors and raise $31.3 million.