Despite presumably being an interesting option for traditionally minded investors, trading volumes of European ethereum (ETH)-backed exchange-traded funds (ETFs) have struggled during the second half of this year. In Canada, on the other hand, the trend is moving in the opposite direction, indicating strong North American demand for ethereum ETFs.
As many readers may already know, there are still no ether-backed ETFs listed in the US, although some analysts argued that the first ether futures-backed ETF could be coming soon. For now, however, the alternative for most investors is therefore to look for ETFs and various other exchange-traded instruments listed in Canada or Europe.
A notable difference from the potential US-listed ethereum ETF is that the funds that are trading in Europe and Canada all hold actual ETH tokens, and not futures contracts that are generally settled in fiat currency.
Meanwhile, in Australia, the local ETF issuer ETF Securities announced in early December that it teamed up with Switzerland-based 21Shares to launch the country’s first ethereum-backed ETF. However, the fund is not yet trading live, with no confirmation on when the listing date might be.
At the time of writing, the following ether-backed ETFs, exchange-traded products (ETPs) and exchange-traded notes (ETNs) are listed in European countries and Canada:
Europe:
- 21Shares Ethereum ETP (AETH)
- CoinShares Physical Ethereum (ETHE)
- ETHetc – ETC Group Physical Ethereum (ZETH)
- Iconic Physical Ethereum ETP (IETH)
- VanEck Vectors Ethereum ETN (VETH)
- WisdomTree Ethereum (ETHW)
Canada:
- CI Galaxy Ethereum ETF (ETHX)
- Evolve Ether ETF (ETHR)
- 3iQ CoinShares Ether ETF (ETHQ)
- Purpose Ether ETF (ETHH)
- Purpose Ether Yield ETF (ETHY)*
*Generates yield that is paid out monthly from selling ether covered call options.
First of all, comparing all of these funds to the underlying ETH spot price shows us that the ETFs generally…
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