Ethereum confirms its status as an asset class and investors are onboarding through more traditional financial opportunities. Just few days ago we were talking about the evolution of the Grayscale Ethereum Trust which reached over $200 million dollar and decided to do a share split in order to onboard more investors and now we have another Ethereum Fund breathing life after rising $75 million dollars over the Canadian border.

The Ether Fund is the first ETH-based ETF product on the Toronto Stock Exchange and has been officially listed after raising more than $75 million from investors. The Ether Fund is an exchange-traded investment fund based on the price of Ethereum. The corresponding Ethereum tokens from the investment fund are secured by the Winkelvoss-run Gemini Custody, so I think that should offer enough trust to be an investor in it. At the moment the fund holds 134,000 Ethereum and that might be expanded in the future.

While @banjo might say "Blame Canada", I think in this case it is great to see it add to the world class assets investment movements into Bitcoin and Ethereum. This is huge news for the ethereans from Canada and all over the world as more investors are getting into the space. As some would say that I am a "Ethereum Maximalist" such moves on the market just give me warmth and the energy towards proving the value that this cryptocurrency holds.

Our charter at 3iQ is to bring digital assets to the listed markets in a convenient and familiar fund format. The Ether Fund (TSX:QETH.U) is the country’s first regulated and major exchange listed ETH fund, and is the next step in our company’s journey. Both The Bitcoin Fund and The Ether Fund can also be held in Canadian registered retirement accounts. [3iQ managing director Tom Lombardi]

While is too soon to have any stats on how The Ether Fund stock performs, we can see that there is a daily volume of $300,000 which for the beginning is good enough. I would expect it to grow into millions, but we also have the hodlers which aren't for the short run. While myself I would be a direct investor into Ethereum, is great to see such instruments available for a wider class of investors that can trade just like any other stock on the TSX.

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