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Ether ETF to trade on TSX April 20

2021-04-16 20:21 ET - New Listing

The Toronto Stock Exchange reports that Ether ETF will be listed at 5:01 p.m. on April 19, 2021, for trading at the open on April 20, 2021. According to the TSX, there will be 100,000 Canadian-dollar-denominated unhedged units and 100,000 U.S.-dollar-denominated unhedged units of the exchange-traded fund (ETF) issued and outstanding, with no securities reserved for issuance. The Canadian-dollar-denominated unhedged units will trade under the symbol ETHR and Cusip No. 29764F 20 0, and the U.S.-dollar-denominated unhedged units will trade under the symbol ETHR.U and Cusip No. 29764F 10 1.

The TSX reports that the ETF seeks to provide unitholders with exposure to the daily price movements of the U.S.-dollar price of ether while experiencing minimal tracking error by utilizing the benefits of the creation and redemption processes offered by the ETF structure. According to the TSX, the ETF does not intend to pay regular cash distributions. Its manager and trustee is Evolve Funds Group Inc., its transfer agent and registrar is TSX Trust Company at its principal office in Toronto, and its fiscal year-end is Dec. 31.

As stated in its prospectus dated April 16, 2021, the ETF will issue 100,000 Canadian-dollar-denominated unhedged units at $10 (Canadian) per unit and 100,000 U.S.-dollar-denominated unhedged units at $10 (U.S.) per unit in its initial public offering. It expects to close the offering before the open on April 20, 2021.

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