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Multiple Ethereum ETFs are issued together, and the encryption market is becoming more and more institutionalized?



Canada’s Ontario Securities Commission (OSC) has approved three Ethereum exchange-traded funds (ETFs) to launch on April 20, 2021.

After approving the launch of the world's first Bitcoin ETF (and the only ETF that invests and holds 100% physical delivery of Bitcoin), the United States is still vacillating whether to follow up, and it launched three Ethereum ETFs. I have to sigh that Canadian regulators are much more relaxed than the United States in the approval of ETFs that track Bitcoin and SPACs.

The three Ethereum ETFs approved by Canada’s Ontario Securities Commission (OSC) were applied by CI Global Asset Management, Purpose Investments and Evolve ETFs. The management fees of the three currently known ETFs are quite different. The management fee rate of CI Global Asset Management is 0.40%, and that of Evolve is 0.75%. The management fee rate of Purpose Investments, which issued the world's first Bitcoin ETF earlier this year, is as high as 1%. The Bitcoin ETF launched in February this year has currently reached $1 billion in assets.

The total lock-up volume of Layer 2 of Ethereum has exceeded 6 billion US dollars: According to L2BEAT data, as of January 16, the total lock-up volume of Layer 2 of Ethereum has reached 6.1 billion US dollars. Among them, Arbitrum has the highest lock-up amount, about $3.02 billion, accounting for 49.60%. Followed by dYdX, the lock-up volume exceeds 959 million US dollars, accounting for 15.72%. [2022/1/17 8:54:28]

Judging from the management fee rate, there is no doubt that CI Global Asset Management has the lowest management fee rate. And CI Global Asset Management also called its ETF "the world's first" ETF based on Ethereum's "world's lowest management fee", code "ETHX". Galaxy Digital Capital will act as advisor and execute the transaction on behalf of the ETF. ETHX will invest directly in Ethereum, and its holdings will be priced using the Bloomberg Galaxy Ethereum Index under Bloomberg Index Services. The product is designed to allow investors to benefit from the price appreciation of Ethereum and the growth of its ecosystem. Steve Kurz, partner and head of asset management at Galaxy Digital, said. The CI Galaxy Ethereum ETF offers investors a simplified path to benefit from the explosive growth of decentralized applications built on Ethereum.

Rahul Rai: Before mid-2022, the market value of Ethereum will surpass that of Bitcoin: On November 8th, Ethereum continued to hit a record high on Monday, with an intraday increase of more than 3%. The currency price was reported at $4717, while Bitcoin rose It hit a two-week high at $65,304, up about 5 percent on the day. Money has poured into cryptocurrencies as investors get excited about the launch of a bitcoin futures ETF (NYSE: BITO ) in the U.S. last month. Since October, bitcoin is up about 50 percent and ethereum is up about 57 percent. Crypto hedge fund manager Rahul Rai boldly asserted that before mid-2022, the market value of Ethereum will surpass that of Bitcoin, which is what the market calls "the flippening". He told the outlet that Ethereum has the potential to “power global financial channels” through the use of DeFi. Judging from the current market value, Ethereum is still far behind Bitcoin. The former has a market value of about 550 billion U.S. dollars, while the latter has a market value of about 1.23 trillion U.S. dollars. However, Rai, co-head of the market-neutral division at BlockTowe (9.91, 0.38, 3.99%)r Capital, doesn't think that will last long. ( [2021/11/8 6:38:45]

Since launching its first ETF in September 2017, Evolve is one of Canada's fastest-growing ETF providers, with over $1.6 billion in assets under management.

News | Enterprise Ethereum Alliance Releases Blockchain Applications in Telecom: The Enterprise Ethereum Alliance (EEA), an organization that aims to establish standards in the blockchain space, has released a series of telecom blockchain use cases. The EEA shared a message on August 28. According to the announcement, the new document on blockchain solutions for the telecommunications industry was created by the EEA Telecommunications Special Interest Group (SIG). This document is freely available to the public and reportedly contains information on how blockchain technology can simplify telecommunications business transactions and inner workings. Additionally, the document aims to demonstrate how so-called standards-based decentralized applications can reduce the risk of fraud, as well as more immediate monetary benefits. (cointelegraph)[2019/8/29]

Canada-based public company Galaxy Digital announced its financials for the fourth quarter of 2020 at the end of March. The company said all of its business segments grew, with net consolidated income of $335.7 million, up 1,175% from the same period in 2019. In addition, the company plans to conduct a secondary listing in the United States, and it is unclear what form the secondary listing will take.

Voice | V God: ETC's 51% attack proves that Ethereum's decision to switch to PoS is correct: Ethereum founder V God commented on a netizen's tweet today: "I don't think a 51% attack on ETC can prove that ETH itself Completeness in engineering; the only difference between the two is that the computing power of ETH is more than 20 times that of ETC. However, this also proves that ETH is complete in concept, because it proves that our decision to switch to PoS is Correct." [2019/1/9]

Regarding the approval of the issuance of the three Ethereum, Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, said: The inflow of Canadian Bitcoin ETFs has continued to hit new highs recently, which has affected the performance of other products in the United States, such as Grayscale Bitcoin Trust (GBTC ).

Days after BTCC launched, Grayscale Bitcoin Trust (GBTC) fell to a discounted price for the first time in more than five years, and less than two weeks later, the negative premium widened to more than 10%. The continuous negative premium in GBTC transactions has undoubtedly caused dissatisfaction among many investors, and some investors even proposed to modify the trading mechanism of GBTC. Marlton Partners, a private investment company from Chicago, urged Grayscale Trust to modify the trading method of GBTC to a Dutch auction, which would improve or even eliminate the negative premium. James C. Elbaor, director of this investment company, believes that although the current repurchase operation conducted by Grayscale is helpful, it does not mean that Grayscale has this obligation at any time, and it is possible to modify and suspend the repurchase plan. Moreover, the director believes that the facts have proved that this method has no effect, and the negative premium still exists.

Therefore, Canada launched three Ethereum ETFs this time. Some analysts believe that Grayscale Ethereum Trust may suffer the same fate and attract the attention of US institutional investors who want to gain exposure to cryptocurrencies.

In addition, Earle Loxton, co-founder of EC10 (formerly known as DCX Capital), the agency behind South Africa's encryption index fund, said it plans to launch the country's first exchange-traded fund (ETF), which is expected to provide South African institutional investors with indirect Bitcoin exposure. According to Loxton, the ETF application will soon be submitted to the Johannesburg Stock Exchange (JSE).

Therefore, the SEC is also facing new pressure at present. Whether to approve the Bitcoin ETF seems imminent. At present, a number of investment companies including VanEck, Skybridge Capital, Galaxy Digital and Valkyrie Digital Assets have submitted proposals to the SEC to provide a Bitcoin ETF. Still awaiting approval, Grayscale also intends to apply to the Securities and Exchange Commission for approval of a bitcoin ETF.

JP Morgan analysts believe that the introduction of Bitcoin ETFs in the United States may reduce the yield of Bitcoin futures, because Bitcoin ETFs have more advantages. In theory, it will track the price of Bitcoin with much greater accuracy than CME or Grayscale. It is also easier for institutions to use Bitcoin ETFs as collateral than Bitcoin futures. All of this means that it will be cheaper to bet on the future price of Bitcoin, and the premium will be smaller, but the demand will increase.

Mike McGlone, chief commodity strategist at Bloomberg, estimates that from May to July this year, the size of the Grayscale Bitcoin Trust Fund may exceed the world's leading gold ETF: SPDR Gold Shares (GLD).

There is no doubt that whether it is the launch of Bitcoin ETF or Ethereum ETF, investors can easily enter the encryption market without worrying about the risk of self-custody. It is believed that with the launch of more cryptocurrency ETFs, institutional investors can accelerate their entry into the crypto market in a regulated manner.


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