Fidelity launching an Ethereum ETF on the Toronto Stock Exchange at 5pm Today
I was surprised to discover this, but it just goes to show how little press the ETFs get in a bear market.
Fidelity, the massive investment firm, is launching an Ethereum Spot ETF on the Toronto Stock Exchange at 5pm EST today. These ETFs have been huge for mass adoption as they allow people who don't want to hold them in wallets or on exchanges. If people hold crypto etfs in their registered retirement accounts they can sell with no taxes against profits.
These ETFs are huge for adoption because they actually hold more crypto in cold storage than a lot of known companies, like Tesla. For reference, the Purpose Bitcoin ETF here in Canada holds 23,000 Bitcoin in Cold Storage, and CI Galaxy holds another ~9,000. Compare that to Microstrategy's 130,000 Bitcoin and Tesla's 10,500 Bitcoin.
submitted by /u/Barbossal
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