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Best Ethereum ETFs In Canada For 2024

2024/08/01By:

With a market capitalization of about $607 Billion CAD, Ethereum is the second-largest cryptocurrency and is poised to introduce several network upgrades next year meaning investors are salivating at the prospect that

Ethereum might surpass Bitcoin as the world’s most popular cryptocurrency. Ethereum ETFs were consequently been among the top performers in the Canadian market and Canadian investors looking to access the trend have a variety of ETFs that track the price of Ethereum to choose from.  This article will introduce the best-performing Ethereum ETFs in 2024, thus helping Canadians make the best choice.

BTCC, one of the longest-running crypto exchanges in the world,  supports trading for 300+ cryptocurrencies with leverage ranging from 1Χ to 225Χ. If you want to start trading cryptocurrencies, you can start by signing up for BTCC.

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What is an Ethereum ETF?

An Ethereum ETF, or Exchange-Traded Fund, is a financial instrument whose value is directly influenced by the fluctuations in the price of Ethereum (ETH). Recent Ethereum ETFs dynamically mirror the spot market prices by engaging in the purchase and sale of ETH as investors transact shares in the fund. Nevertheless, before the authorization of spot-market Ethereum ETFs, several funds resorted to the futures market to provide investors with exposure to ETH’s price movements. Although this approach might not be as precise as funds that directly hold ETH, it opens up additional investment avenues, such as funds that speculate on ETH’s declining prices.
The accessibility and liquidity of ETFs make them attractive to investors, as they can be seamlessly traded through traditional stock brokerages. Many brokerages facilitate ETF purchases using individual, IRA, or other retirement accounts, further simplifying the investment process.
Next, we will introduce the best-performing Canadian Ethereum ETFs in 2024, thus helping Canadians make the best choice.
ETH USDT-margined perpetual futures contract with a leverage of up to 500x is available on BTCC, you can directly click the button below to trade Ethereum (ETH)⇓ 

Evolve Ether ETF (ETHR)

Launched by Evolve Funds Group Inc. In Aprile 2021, Evolve Ether ETF is world’s first Ether ETF. ETHR provides investors with exposure to the daily price movements of the U.S. dollar price of Ether by utilizing the benefits of the creation and redemption processes offered by the exchange traded fund structure. The benefits of ETHR include:

  • Access to Ether directly in portfolios.
  • Easy to trade: accessible through brokerage accounts.
  • TFSA and RRSP eligible: this ETF is eligible for registered accounts.

CI Galaxy Ethereum ETF (ETHX) 

The CI Galaxy Ethereum ETF (ETHX) is an Ethereum exchange-traded fund (ETF) jointly launched by CI Global Asset Management and cryptocurrency company Galaxy Digital. Since ETHX directly tracks the price performance of Ethereum, its price movement is highly correlated with the price of Ethereum. Investors can indirectly participate in the Ethereum market by purchasing CI Galaxy Ethereum ETF.

As an exchange-traded fund, the CI Galaxy Ethereum ETF is strictly regulated by regulators, providing investors with a compliant investment channel. Since its launch, the CI Galaxy Ethereum ETF has attracted a lot of investor attention and its trading volume has remained at a high level.

Purpose Ether ETF (ETHH)

Launched by Purpose Investments Inc., the Purpose Ether ETF (ETHH) is an Ethereum Exchange-Traded Fund (ETF) listed on the Toronto Stock Exchange in Canada. The Purpose Ether ETF attracted a lot of investor attention on its first day of trading and raised a considerable amount of capital. This indicates high investor interest and demand for this Ethereum ETF.

The price performance of Purpose Ether ETF (ETHH) is highly correlated with Ethereum’s price. Due to the volatility of the Ethereum market, the price of ETHH will also be affected accordingly. This ETF provides physical exposure, by owning its shares investors earn the return of the securities composing the index (as the ETF holds them directly)..

Final Words

Since the approval of the first SPOT Ethereum ETF by the SEC, Ethereum ETFs have seen many ups and downs. For Canadian investors who are bullish on the long-term development of Ethereum, long-term holding of Ethereum ETFs may be a good choice.

However, as any investment carries with both opportunities and risks, investors need to fully understand their investment strategy, fee structure and potential risks, then develop an appropriate investment strategy based on their risk tolerance and investment objectives.

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Where & How To Buy Ethereum (ETH)?

ETH USDT-margined perpetual futures contract with a leverage of up to 500x is available on BTCC, you can trade Ethereum (ETH) Perpetual Futures Contract on BTCC at the most competitive price and highest security.

The following sets forth the guidance for trading Ethereum (ETH) Perpetual Futures Contract on cryptocurrency exchange BTCC:

Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.

Step Two: on the BTCC official homepage, choose “Deposite” > “Fiat Deposit”, and then fund your account.

Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find the Ethereum (ETH) trading pair.

You can also click the button below to directly enter the Ethereum (ETH) trading page⇓

Step Four: choose the contract trading order type. BTCC contract orders are divided into market orders, limit orders and SL/TP orders.

  • Market Order: users place orders at the best price in the current market to achieve fast trading.
  • Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
  • SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.

Step Five: adjust the leverage multiple.

Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.

Step Six: choose the lot size and set the SL/TP price .

Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.

Step Eight: click the buy or sell button, and the Ethereum (ETH) futures contract order is completed.

＼Trade On BTCC With 10 FREE USDT!／

Sign Up To Receive Up To 10,055 USDT DEPOSIT BONUS

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BTCCEthereumEthereum (ETH)Ethereum ETFsWhere & How To Buy Ethereum (ETH)Best Ethereum ETFs In Canada For 2024What is an Ethereum ETFBest Ethereum ETFs In Canada 2024Evolve Ether ETFCI Galaxy Ethereum ETF

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