With three new ethereum ETF's coming out on the Toronto exchange next week you might be wondering to yourself why should I care? What is an ETF? and how does this benefit me?
What is an ETF?
ETF is short for exchange-traded fund. It is a type of security that tracks a commodity or index or in our case ethereum and can be traded all the same as a regular stock. In the case of cryptocurrency, this provides investors with the opportunity to get into cryptocurrency without having to set up a wallet and exchanges along with the other hassles that come with holding crypto.
Why you should care?
Two months ago the first Bitcoin ETF was authorised and at the time of writing has already amassed over $1.1 billion. Regardless of your opinion on ethereum that is a huge amount of money coming into crypto and it shows that people are interested. Let's not also forget that a lot of investors will be looking at the value of Defi in terms of etheurem.
How does this benefit you?
Whether you hold eth or not more money coming into the cryptosphere can only be seen as a good thing. It is clear as day that there are regular investors who want to get into crypto and now they have a way to invest that is familiar to them. With more people learning about crypto and investing in this rich ecosystem everyone is sure to benefit from this.
