update 27 November 2021

Is There An Ethereum ETF?

There’s been a lot of talk about crypto ETFs as of late. Specifically, Bitcoin ETFs.

Last month, the very first Bitcoin ETF was launched in the United States. It pulled in over $1 billion in volume in just two days. Most importantly, it was praised for reeling an all-new investor base into the asset class.

However, Bitcoin isn’t the only cryptocurrency in town. Ethereum – the second-largest crypto – has also seized the interest and funds of major investors. These include figureheads like Elon Musk, Mark Cuban and Raoul Pal, and even a US firefighter pension fund.

This begs the question: are there any Ethereum ETFs?

Available Ethereum ETFs

While there are no Ethereum ETFs in the United States at the moment, there are plenty in other countries. Here are some options for investors looking to add Ether to their portfolio as easily as they would a stock.

CI Galaxy Ethereum ETF

  • Location: Canada
    Ticker: ETHX

CI Global Asset Management launched the world’s first Ether ETF in Canada on April 20th 2021. This was just two months after the launch of the world’s first Bitcoin ETF in the same country. It currently trades on the Toronto Stock Exchange.

The ETF is backed by direct Ether holdings, held by Galaxy Digital Asset Management. The price of each share readjusts at the end of each day, based on the Bloomberg Galaxy Ethereum Index . This makes Galaxy’s product a “spot” ETF, which is generally preferred by investors over futures products.

WisdomTree Ethereum ETP

  • Location: Europe
  • Ticker: WETH GY / ETHW SW

WisdomTree launched a spot-based Ethereum ETF for European investors, shortly after Evolve launched in Canada. It is listed in Euros on the Deutsche Börse Xetra (WETH GY), and in Euros + USD on SIX Swiss Exchange (ETHW SW).

Each share has the backing of exactly 0.01 ETH, which the Swissbank Quote and Coinbase Custody hold. It comes with an expense fee of less than 0.95%.

Evolve Cryptocurrencies ETF

  • Location: Canada
    Ticker: ETC

Evolve launched a unique multi-crypto investment vehicle in July of this year. Their multi-crypto ETF gives holders exposure to a combination of both Bitcoin and Ethereum. Trading on the Toronto Stock Exchange, it backs its holdings using shares of Evolve’s existing Bitcoin and Ethereum spot ETFs.

The product doesn’t provide a 50/50 split, but rather weighs its BTC/ ETH holdings based on each crypto’s current market cap weightings. Currently, Ethereum  has slightly less than half of Bitcoin’s market cap. So, the ETF has the backing of roughly one-third Ethereum, and two-thirds Bitcoin. This is a great choice for ETF investors that wish to easily diversify between the two top cryptos.

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