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Date:
19th Apr 2021
Author:
Dalmas Ngetich, for CryptoAltum News Team

3 Ethereum ETFs Approved in Canada; ETHUSD Prices Correct to $2.1k

Canadian regulators haveapprovedthree Ethereum ETFs-- Purpose Ether ETF, CI Galaxy Ethereum ETF, and Evolve Ether ETF. All will launch on the Toronto stock exchange (TSX) beginning Apr 20. This time, the regulator decided to level the ground. They gave issuers the same advantage, unlike what they did earlier when they approved the Purpose Bitcoin ETF before giving the green lights to others.


Details:

Institutional participation is vital for any digital asset. It is crucial considering the current state of affairs being a mostly unregulated asset. Canada's regulators approving the three Ether ETFs opens up the sphere to deep-pocketed institutions to participate, a net positive for ETH/USD prices. Eyes are on the SEC and whether they will approve the first Bitcoin ETF, setting the ground for the same ETH product in due course.


Impact on the ETH Price:

Bullish. Events from regulators complementdevelopers' effortin enhancing the network's performance, offering support for ETH/USD prices. From Apr 20, the ETH price may edge higher, arresting Apr 18's collapse and providing an opportunity for institutions to double down on the asset.


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