By Hassan Mehmood (Saudi Arabia)
A Toronto-based asset management company known as the Purpose Investments is all ready to pull the trigger on the world’s first Ethereum exchange-traded product (ETF), as they got cleared by the Canadian regulators. All of this and more was explained in their recent press release. At present, there are not many ETFs going on, and Canada seems to be the only place that is concerned with the future of the cryptocurrency and is willing to do something about it as the USA at the moment is not at all flexible for the adoption of ETFs which is kind of putting the crypto game at hold in there.
The USA is particularly resistant to approve any ETFs at this point, whether these are for Bitcoin or Ethereum, as allegedly these will hurt the performance of other markets. But there is one thing that is being slipped by the regulators here: ETFs are important for the future of cryptocurrency and are required to bring stability and improvement to the game. Bitcoin’s ETFs are already in the works, and paperwork is finished and filed in; who knows what the final outcome be about that, but there is a lingering shadow of hope that it might come out great for everyone.
Also read:Canada Becomes a Pioneer for Entertaining Crypto ETFs
If the crypto market is to grow ever and help bring the change that its foundation claims so strongly for in this World, then ETFs should be upheld, adopted, and approved as there is no other way the digital revolution is going to hit us. Bitcoin was the first cryptocurrency of the world, something that laid the groundwork for other cryptocurrencies to be developed and join the wonderful ecosystem of the crypto market.
But what other altcoins such as Ethereum and Ether are proposing is a revised technology that is better, speedier, and carries a clearer vision. This is not something that Bitcoin lacks, but there is always room for improvement. However, it is not sure whether other regions will be speeding up the ETF approval process, but Canada, for one, is taking the game by storm.
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