Canadian asset supervisor CI Monetary, which oversees greater than $230 billion value of belongings, has filed for an ether (ETH) exchange-traded fund (ETF).
CI is seeking approval to checklist the ETH ETF on the Toronto Inventory Trade (TSX). If authorized, the agency would handle the ETF with Mike Novogratz’s Galaxy as subadvisor, which means Galaxy will execute ETH buying and selling on behalf of the ETF.
The ETF would commerce with the ticker image ETHX and cost an annual administration payment of 1%.
Final week, CI also filed for a bitcoin ETF and is awaiting approval. The agency already operates a bitcoin fund named CI Galaxy Bitcoin Fund, which manages about $162 million value of belongings.
“Ethereum is the main candidate to be the bottom layer of Net 3.0, and Ether is a progress asset that gives buyers publicity to the explosion of decentralized purposes,” mentioned Galaxy’s Novogratz.
Galaxy itself is seeking to launch a family of ETH funds within the close to future, the agency revealed final month.