Best Ethereum ETFs in Canada: Your Gateway to Crypto

The world of cryptocurrency is a fast-paced one, and it can be tough to keep track of all the ups and downs that happen within this market.

There’s no need for fear, though! If you’re looking at investing your money into some different coins or tokens before they rise even higher in value, then we’ve got just what will work best!

The rollercoaster ride of crypto markets continued in April 2021 with the introduction and successful launch of four new Ethereum ETFs. This follows hot on the heels Canadian Bitcoin ETF launches just a few months earlier, which set off an unprecedented price surge that has occupied mainstream news headlines around the world!

Cryptocurrencies are becoming more popular, and you can get a piece of the action with Ethereum. The time to invest in cryptocurrency is now! 

With cryptocurrency investing becoming increasingly popular over the last few years, many crypto experts believe this is just a taste of things to come.

In 2020 alone, we saw several top digital assets shoot up by huge margins – and some even reached all-time highs!

In this article, we will discuss the best Ethereum ETFs currently available to Canadians and provide a list of resources where you can buy them so that your investment is as informed as possible.

Top 4 Canadian Ether ETFs you must have in your portfolio now!

Here are the best Ether ETFs that have been approved for trading on the Toronto Stock Exchange in Canada:

1. CI Galaxy Ethereum ETF (ETHX)

ETHX is the ticker symbol
Management Fees: 0.40%
C$816 Million in Assets Under Management (AUM)
Date of Listing: April 16, 2021
TFSA/RRSP Acceptable: Yes

CI Investments introduced the CI Galaxy Ethereum ETF (ETHX) in April 2021 in collaboration with Galaxy Digital Capital Management LP, the ETF’s Portfolio Manager.

The CI Galaxy Ethereum ETF (ETHX) is listed on the Toronto Stock Exchange and is available in both Canadian and US dollars:

  • CAD Unhedged: ETHX.B
  • US Dollars: ETHX.U

2. Purpose Ether ETF (ETHH)

ETHH is the ticker symbol
Fees: 1%
Assets Under Management (AUM): $289 million Canadian dollars
Date of Inception: April 19, 2021
TFSA/RRSP Acceptable: Yes

Purpose Investments is the company that established the world’s first cryptocurrency exchange-traded fund, BTCC, in February 2021.

The management fee is 1%. However, the MER, or total cost of the Ether ETF, is unknown at this time.

On the other hand, Purpose Investment has capped it at 1.50%, and any fee savings would be passed on to ETF investors.

The Purpose Ether ETF (ETHH) is the Ethereum ETF offered by the same investing firm and is traded on the Toronto Stock Exchange via three ticker symbols:

  • CAD Non-Currency Hedged: ETHH
  • CAD Currency Hedged: ETHH.B
  • USD Non-Currency Hedged: ETHH.U

3. Evolve Ether ETF (ETHR)

ETHR is the ticker symbol
Management Fees: 0.75%
Assets Under Management (AUM): $84 million Canadian dollars
Date of Listing: April 20, 2021
TFSA/RRSP Acceptable: Yes

The Evolve Ether ETF (ETHR) began trading simultaneously as the CI Galaxy Ethereum ETF and the Purpose Ether ETF but has a substantially lower net asset value.

The ETF invests exclusively in Ether and charges a 0.75% management fee.

As with additional Ethereum ETFs on this list, returns and performance data are not currently accessible due to the ETFs’ infancy.

ETHR is listed on the Toronto Stock Exchange and is available in both Canadian dollars (CAD) and United States dollars (USD) under the following ticker symbols:

  • CAD Unhedged: ETHR
  • US Dollars Unhedged: ETHR.U

4. 3iQ CoinShares Ether ETF (ETHQ)

ETHQ is the ticker symbol
Fees: 1%
Assets Under Management (AUM): $374 million Canadian dollars
Date of Inception: April 19, 2021
TFSA/RRSP Acceptable: Yes

The 3iQ CoinShares Ether ETF (ETHQ) is Canada’s fourth Ethereum exchange-traded fund (ETF) to receive approval in 2021.

ETHQ is being offered by 3iQ, the country’s leading digital asset investment fund manager, in collaboration with CoinShares, Europe’s most prominent digital asset investment fund manager.

The management fee for the 3iQ CoinShares Ether ETF is 1%, while the MER is limited to 1.25%.

ETHQ is an Ether exchange-traded fund (ETF) that is open to the public and is traded on the Toronto Stock Exchange.

Additionally, investors can pick between the USD and Canadian dollar variants, denoted by the ticker symbols ETHQ.U and ETHQ.

How To Buy Ethereum ETFs in Canada

One of the primary advantages of investing in Ethereum via an ETF is the ability to purchase them through your preferred brokerage.

There is an additional trading cost, but it should be the same as trading any other ETF.

Nevertheless, you may completely eliminate the additional commissions if you invest through a commission-free investment platform.

If you’re searching for no commission brokerages or investing apps, the following two are excellent choices for Canadian investors:

Wealthsimple Trade Best Value

Trading fees for ETF purchases and sales are zero
Trading via desktop and mobile devices
A Reputable Brand with a Stunning Design

Questrade Best Value

ETF purchases incur zero trading fees
Trading via desktop and mobile devices
Numerous account types available

How to Buy Ethereum in Canada using Crypto Exchanges & Mobile Apps

Ethereum is a hot cryptocurrency that’s quickly becoming one of the most widely accepted coins out there.

Here are 3 of the top cryptocurrency exchanges and apps available in Canada to buy Ether quickly: Versatile

A reputable, leading low-fee exchange with over 60 coins available.

Coinbase Secure & Trusted

A secure and trusted exchange that enables investors of all skill levels to buy, store, and sell cryptocurrencies.

Wealthsimple Crypto Reputable

The first crypto asset platform in Canada to be registered with securities regulators.

Bitcoin ETFs are also a thing now

Bitcoin ETFs were launched a few months before Ethereum ETFs.

And they’ve seen widespread acceptance, with two of them exceeding C$1 billion in assets under management in less than a month.

The same providers of Ether ETFs as described in this article also provide Bitcoin ETFs with comparable management fees and MERs.

You can learn more about the best Bitcoin ETFs in Canada by reading that article.

Which Ethereum ETF is right for you?

The Canadian Ether ETFs are a great way to invest in Ethereum without the need to acquire and secure your own digital tokens. But if you want more control over how you invest, it is possible to purchase Ether directly through an exchange or other platforms. Make sure that you take time before investing to make informed decisions about what kind of investment makes sense for your needs.

CI Galaxy Ethereum ETF (ETHX) is the perfect investment for those looking to invest in an Ether ETF and want a low management fee. It has one of the lowest fees among all other Ether ETFs available on the market, with its MER capped at 0.95%.

If you’re thinking about investing your money into an ETF but don’t know where to start, consider this option first!

Sunny Hoi

Sunny Hoi

Sunny is an experienced content strategist. He has a deep understanding of the retail and finance industries. Sunny has written extensively about products, services, stores, stocks, cryptocurrencies, and investment strategies. Sunny's writing reflects his deep understanding of his subjects and commitment to providing clear, concise information that helps readers make informed decisions.

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