Evolve Has Submitted a Preliminary Prospectus for an Ethereum ETF to Canadian Regulators

Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Cointelegraph Chinese (ID: CointelegraphChina)Cointelegraph Chinese (ID: CointelegraphChina), reprinted by Odaily with authorization.

Evolve plans to launch an ethereum ETF in Canada, less than a month after becoming the second firm to receive approval from Canadian regulators to list a bitcoin exchange-traded fund (ETF).According to a press release on Tuesday, Evolve has filed a complaint with Canadian regulatorssubmitted

Preliminary prospectus, application for permission to begin trading Ethereum ETF products.

According to the statement, if the ethereum ETF is approved, it will trade under the symbol "ETHR" and track the ethereum-dollar reference rate (ETHUSD_RR) provided by the CF benchmark.

Chicago Mercantile Exchange (CME) Ethereum Futures Contract

Also use the same base price.

The statement also reveals that the proposed ethereum ETF will offer UnHedged Units denominated in U.S. and Canadian dollars.Commenting on the preliminary filing, Evolve CEO Raj Lala said Evolve looks forward to providing Canadian investors with another exposure to cryptocurrencies through the ETF market.。

For Elliot Johnson, chief operating officer and chief investment officer of Evolve, the company decided to apply for an ether ETF because ethereum is the second largest cryptocurrency by market capitalization. He added:"Ethereum is the foundation of the digital financial revolution, which is still in its infancy. Ethereum is the most actively used blockchain, and Ethereum is used to pay for transaction fees and computing services."If approved, ETHR would become Evolve's second cryptocurrency ETF after Evolve

Launched the "EBIT" Bitcoin ETF product in February of this yearAs previously reported by Cointelegraph, Bitcoin ETF Trading。

Explosive growth in Canada. In less than a week of its launch, the Purpose Bitcoin ETF managed more than $500 million in assets.However, in the past few days, due to the large fluctuations in the price of Bitcoin, there has been a significant increase in transaction volume.

decline