Category: Regulation



ETH bonanza as three North American Ethereum ETFs approved in one day


Canadian stock market investors will soon have a wide range of options to choose from when it comes to Ethereum ETFs.

While gaining exposure might still be difficult south of the US-Canada border, Canadian investors will shortly have a host of options to choose from to gain exposure to Ethereum (ETH) via an ETF as regulators have approved three different Ethereum ETFs in a single day. 

Purpose Investments, Evolve ETFs, and CI Global Asset Management were all approved by Canadian regulators to launch Ethereum-backed ETFs today. The ETFs will be the first ETH ETFs in North America, and among the first in the world. 

Some observers noted that all three being approved at once may have been part an effort not to give Purpose an “unfair advantage”. Purpose appeared to gain an edge after the launch of the wildly popular Purpose Investments ETF, the first North American Bitcoin ETF which quickly swelled to $1.3 billion in AUM while competitors waited for approval. Rival Evolve Fund Group’s Bitcoin ETF only managed to attract $100 million in AUM, despite launching only two days later than Purpose and offering 25% less management fees.

In a Tweet, a reporter for Bloomberg said that the CL Galaxy and the Purpose ETF funds will begin trading on 4/20 — a date he thought would please Elon Musk, given it’s marajuana culture connection. Likewise, Evolve’s ETH ETF — which they first filed for in March — will begin trading on the same day.

The Canadian stock market has already demonstrated a significant appetite for exposure to crypto assets. Previous exchange-traded Ethereum products led to market halts on the first day of listing, and Purpose’s Bitcoin ETF cracked $100 million in its first day of trading



Federal Reserve Chairman Jerome Powell Says Cryptocurrencies Are ‘Vehicles for Speculation’


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Turkey Bans Cryptocurrency Use for Payments as Local Currency Plunges


The Central bank of the Republic of Turkey has issued a cryptocurrency regulation prohibiting the use of cryptocurrencies for payments of goods and services. From the end of this month, crypto assets cannot be used directly or indirectly as a means of payment in the country and no service can be provided for this purpose. […]


South Korean City Threatens to Seize Cryptos From Tax Evaders


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MIT Crypto Professor Gary Gensler Confirmed as New SEC Chairman


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SEC Commissioner: Banning Bitcoin Is Like Shutting Down Internet — Government Would Be ‘Foolish’ to Try


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US Government Concerned China’s Digital Yuan Could Threaten Dollar as the World’s Dominant Reserve Currency


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Spanish Tax Authority Issues 14,800 Warning Letters to Cryptocurrency Holders


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Central Bank of Nigeria Blocks Fintech Startups From Accessing KYC Service— Decision Described as an ‘Attack on All Fintechs’


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Sri Lanka’s Crypto Regulation: Central Bank Warns of Cryptocurrency Risks, Unlicensed Exchanges


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Goldman Sachs Predicts ‘Big Evolution’ Coming to Cryptocurrency Regulation


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SEC v Ripple: Court Denies SEC’s Request for Personal Financial Records Not Connected to XRP


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An ECB Board Member Attacks Bitcoin, Says It ‘Does Not Fulfill the Basic Properties of Money’


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South Korean Government Announces Crackdown on Illicit Crypto-Related Transactions in an ‘Overheated Market’


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US Regulator Accuses Lbry Project of Selling Unregistered Securities, CEO Denies Charges


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Petition Calls on New SEC Chairman to Drop Ripple Lawsuit and ‘End War on XRP’


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Economist Says Bitcoin Isn’t Too Big to Fail — Warns BTC Can Only Establish Itself if Governments Allow It


Allianz’s chief economic advisor Mohamed El-Erian says that bitcoin is not too big to fail and that governments may intervene. While he believes that cryptocurrency will grow in popularity, the economist says “it takes away a lot from governments,” adding that this asset “can only establish itself if governments allow it to.” Economist Warns of […]


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