{"id":192293,"date":"2021-03-02T19:00:00","date_gmt":"2021-03-02T16:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/evolves-files-for-ether-etf-with-canadian-regulators\/"},"modified":"2021-03-02T19:00:00","modified_gmt":"2021-03-02T16:00:00","slug":"evolves-files-for-ether-etf-with-canadian-regulators","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/evolves-files-for-ether-etf-with-canadian-regulators\/","title":{"rendered":"# Evolves files for Ether ETF with Canadian regulators"},"content":{"rendered":"

“# Evolves files for Ether ETF with Canadian regulators <\/strong>”
\n<\/p>\n

Less than a month after becoming the second firm to secure app<\/a>roval from Canadian regulators to list a Bitcoin (BTC) exchange-traded fund, Evolve is looking to debut an Ether (ETH) ETF product in Canada.<\/p>\n

According to a Tuesday press release, the company has filed<\/a> a preliminary prospectus with Canadian regulators for approval to begin trading an Ether\u00a0ETF product.<\/p>\n

According to the communique, if the Ether ETF is approved, it will trade under the ticker \u201cETHR\u201d and will track the Ether-Dollar Reference Rate (ETHUSD_RR) provided by CF Benchmarks. The CME ETH futures contract also utilizes the same benchmark price.<\/p>\n

The announcement also reveals that the proposed Ether ETF will offer denominated unhedged units for both the U.S. dollar and Canadian dollar units.<\/p>\n

Commenting on the preliminary filing, Evolve CEO Raj Lala remarked that the company is looking forward to providing Canadian investors with exposure to another cryptocurrency via the ETF market.<\/p>\n

For Elliot Johnson, the firm\u2019s chief operating officer and chief investment officer, the company decided to move forward with an Ether ETF due to the prominence of the second-largest crypto by market capitalization. He added:<\/p>\n

\u201cEther is the building block for a revolution in digital finance which is still in its infancy. [\u2026] Ethereum is the most actively used blockchain with Ether being used to pay for transaction fees and computational services.\u201d<\/p><\/blockquote>\n

If approved, the ETHR will be the second crypto ETF from Evolve\u2019s stables, following its \u201cEBIT\u201d Bitcoin ETF product launched back in February. <\/p>\n

As previously reported by Cointelegraph, Bitcoin ETF trading saw an explosive debut in Canada. The Purpose Bitcoin ETF reached over half a billion dollars in assets under management less than a week after its launch.<\/p>\n

However, there has been a noticeable decline<\/a> in trading volume amid significant BTC price volatility over the last few days.<\/p>\n

Meanwhile, Grayscale Investment\u2019s Graysacele Bitcoin Trust product has seen its premium decline to record lows,\u00a0while trading on Canada\u2019s Bitcoin ETFs has surged.<\/p>\n

According to JPMorgan Chase analysts, there is a direct link between the explosive trading of Canadian Bitcoin ETFs and the decline in the GBTC premium.<\/p>\n