It took years for regulated cryptocurrency investment products to reach mainstream adoption.

In Canada, which is known for its cold weather, cryptocurrency matters are heating up quickly there.

After launching three Bitcoin Index Traded Funds (ETFs) earlier this year, Canada has now approved three more funds, this time relating to the second largest cryptocurrency by total market capitalization.

Ethereum ETFs, which will be available on the Toronto Stock Exchange (TSX), will give investors exposure to the second largest cryptocurrency.

The companies behind the three separate ETFs are:

• “has evolved”.
• Purpose Investments.
• CI Global Asset Management (which is working with Galaxy Digital on its product).

Purpose and Evolve already have Bitcoin ETFs that trade on the Toronto Stock Exchange.

Read:FBI seizes nearly $2.3 million in cryptocurrency linked to fraud gang

All three ETFs will be available next Tuesday, April 20, 2021.

ETFs are products that allow investors to buy shares that represent a specific asset, in this case, the asset is Ethereum.

Investors can trade Ethereum on the exchange continuously throughout the day, but there is no need to worry about storing and holding the cryptocurrency because the ETF is the one that does it.

Canada has come a long way in crypto ETFs, while its neighbor, the United States of America, has not yet ratified the Bitcoin ETF, as there are already files and applications on the SEC table awaiting consideration and approval.

For your information, the Securities and Exchange Commission “SEC” has repeatedly rejected applications from companies wishing to establish one of these funds.

The SEC believes that the Bitcoin market can still be easily manipulated, and in its rejection of Bitwise’s Bitcoin ETF in October 2019, all of this cast doubt that the SEC would not accept any future Bitcoin index fund.

Regulators in Canada clearly disagree, as the country is now a hot spot for crypto ETFs.

Earlier this year, three bitcoin investment funds were approved in the North American country, breaking two records with their trading volumes, with one of them trading $80 million in its first hour and “Evolve” raising $421 million in just two days.

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The three funds claim to be the first companies to run Ethereum ETFs in the world, but this is not entirely true.

In Switzerland, there are two types of Ethereum ETFs, which are:

• Physical CoinShares.
• 21 posts.

Both are referred to as ETPs but they basically do the same thing as the ETF in Canada.

While these mutual funds are approved in different parts of the world, the crypto community awaits the turn of the United States of America whose approval of the Bitcoin ETF will have a special impact.

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