Three more cryptocurrency exchange-traded funds are launching on the Toronto Stock Exchange.
Evolve Funds Group Inc. is launching the world’s first Ether exchange-traded fund, according to a press release, which noted the ETF will invest directly in the cryptocurrency used to pay for transaction fees and computational services on the Ethereum network. The ETF will provide investors with exposure to the daily price movements of the U.S. dollar price of Ether and won’t seek exposure through derivatives or futures contracts, the release said.
In addition, Horizons ETFs Management Canada Inc. is launching its BetaPro Bitcoin ETF and BetaPro Inverse Bitcoin ETF, both of which provide long and inverse exposure, respectively, to the Horizons Bitcoin front month rolling futures index, according to a release.
The new cryptocurrency ETFs are the latest to launch on the TSX. The CI Galaxy Bitcoin ETF began trading in March and in February, Bitcoin ETFs from Purpose Investments and Evolve Funds Group Inc. became the first to trade on the TSX, amid a recent surge in cryptocurrency prices.