Weeks after winning Canadian approval for North America’s first Bitcoin ETFs, Evolve Funds have announced to file the preliminary prospectus with the Canadian securities regulator for an Ether ETF. As soon as the funds are approved, it would give investors exposure to the daily price movements of the US dollar price of Ether, the digital oil. Decentralized Structure of Ether Ethereum is a decentralized, distributed computing, open-source platform that allows the creation of smart contracts and decentralized applications (dApps). A decentralized, open-source, and distributed computing platform that enables the creation of smart contracts and dApps. Smart contracts are computer protocols that facilitate, verify, or enforce the negotiation and performance of some sort of agreement. “Ether is the building block for a revolution in digital finance which is still in its infancy,” said Evolve CIO and COO, Elliot Johnson in a press release. “All Ether transactions are recorded on the Ethereum computer network, which is a decentralized, open-source blockchain featuring smart contract functionality. Ethereum is the most actively used blockchain, with Ether being used to pay for transaction fees and computational services.” Canada’s Crypto Stance Canada is taking a positive crypto stance and has approved two publicly traded bitcoin ETFs this year. Although Ether ETF has not been approved yet, the positive approach is raising hopes that the US will soon follow suit. After approval of two publicly traded bitcoin ETFs, the funds exploded in the initial days of trading and became the chief reason behind Bitcoin ETF trading $165 million worth of shares on its first day. On the other hand, Evolve Bitcoin ETF raised $421 million in two days, according to reports. In the latest attempt to launch bitcoin ETF in the US, the Chicago Board Options Exchange (CBOE) has filed a request with SEC on Monday, to list shares of VanEck’s bitcoin ETF.
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