Three North American Ethereum ETFs get approved in a single day.

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When it comes to Ethereum ETFs, Canadian stock market holders will shortly have a plethora of options.

Although obtaining exposure may still be difficult south of the US-Canada border, Canadian investors will soon have a plethora of options to choose from to obtain exposure to Ethereum (ETH) through an ETF, as regulators accepted three separate Ethereum ETFs in a single day.

Canadian regulators today approved the introduction of Ethereum-backed ETFs through Purpose Investments, Evolve ETFs, and CI Global Asset Management. The ETFs will be the first in North America and one of the first in the world.

Any analysts speculated that the approval of all three at the same time was part of an attempt to avoid giving Purpose a “unfair advantage.” Purpose began to gain an advantage following the release of the wildly successful Purpose Investments ETF, the first North American Bitcoin ETF, which rapidly grew to $1.3 billion in AUM as rivals awaited acceptance. Despite releasing just two days later than Purpose and promising 25% lower management fees, rival Evolve Fund Group’s Bitcoin ETF just managed to attract $100 million in AUM.

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In a Tweet, a Bloomberg reporter stated that the CL Galaxy and Purpose ETF funds will begin trading on 4/20 — a date he believes will satisfy Elon Musk due to its marijuana culture connection. Similarly, Evolve’s ETH ETF, which they first applied for in March, will go live on the same day.

The Canadian stock market has also shown a strong desire for exposure to crypto assets. Previous exchange-traded Ethereum items caused market halts on the first day of listing, and Purpose’s Bitcoin ETF surpassed $100 million in turnover on the first day.

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