In a recently revealed update, Canadian Regulators have approved three Ethereum ETFs in a single day, ahead of the highly anticipated EIP1559 upgrade. It is likely to witness the Ether token become deflationary as a segment of the network charges is condemned to be burned. Canadian Regulators Green Flagged Three Ethereum ETFs Ahead of EIP1559 Upgrade Talking about the exchange-traded funds that have been recently approved, they are from CI Global Asset Management, Evolve ETFs, and Purpose Investments. Moreover, the major thing to note here is that these are the very first Canadian ETFs of their kind. In any discussion and debate over cryptocurrency ETFs, Canada is far ahead of its neighbor, the United States in terms of approving exchange-traded funds. As a matter of fact, the United States is yet to give approval for even a Bitcoin ETF, which Canada had for a while now and again advancing with three Ethereum ETFs. The basic job of an exchange-traded fund is to allow the institutional investors to get exposed to these digital assets while keeping them within the boundaries of the traditional system of finance. Talking about the price of Ether, it has been on a surge for over a week now marking its rise to around 35.9% now along with the Berlin hard-fork and an abundance of developments at an all-time high. Well, more advances in the price of the token are expected in the near future, as recently, three Ethereum ETFs have been launched. As of now, it is expected that the introduction of these new funds will be having a positive effect on the price. Ethereum 2.0 – The Next Big Upgrade The next big upgrade from the network of Ethereum that will be bringing eWASM, POS(Proof Of Stake), and Sharding is the introduction of Ethereum 2.0. This in turn is going to lessen the resources that are required to run the Ethereum network, along with bringing expandability and enhancements in the performance in the network. In addition to this, it should also be known that the Ethereum 2.0 upgrade will be executed in three phases. The first phase is the 0 phase and in it, the Beacon Chain and was expected by the fall of the second quarter of the year 2020. It will be followed by Phase 1 in the first quarter of the year 2021, which will b introducing the defragmentation along with allowing the data to be stored on shards, however, the dealings can not still be processed. Phase 2 will be bringing the Ethereum WebAssembly, eWASM, which will be replacing the now functional EVM, that is Ethereum Virtual Machine.
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