Ether Fund Prices Offering

Posted on November 3, 2020 by Mathieu Litalien

StockTrades Take:

A new cryptocurrency fund is about to make its debut on the TSX Index. Late last week, the Ether Fund filed an amendment to its prospectus in which it detailed pricing. The company expects to raise up to US$107.5M at a price of US$10.75 per Class A Unit and US$10.53 per Class F Unit. Class A Units are available to all investors, while Class F units are designed for fee-based and/or institutional accounts and will not trade on the exchange.

The purpose of the fund is provide exposure to the Ether (ETH) digital currency. In other words, it is similar to Bitcoin funds in that it will buy and hold the Ether digital currency. It is simply a way for investors to gain exposure to the cryptocurrency without having to purchase the coin itself. 

We have no real opinion on this fund. We are by no means crypto currency experts, but are biased towards Bitcoin as the best-in-class cryptocurrency. Many of the other coins will come and go, but we also acknowledge that there is room in the markets for other digital currencies. There is a lot of movement here with governments and banks starting to get involved. The EU announced plans to launch a Euro digital currency which would compete with Bitcoin.

All this to say, this is likely going to be a highly volatile and the Ether fund will come with considerable risk. Of note, no details on when the listing is expected and the Fund originally filed in July.

Disclaimer: The writer of this article or employees of Stocktrades Ltd may have positions in securities listed in this article. Stocktrades Ltd may also be compensated via affiliate links in this post. Stocktrades Ltd will run advertisements on our posts. These advertisements do not represent an endorsement by us.

Mathieu Litalien

About the author

Mathieu is an individual investor and has been investing part-time for the better part of the past 20 years. He is primarily interested in fundamental analysis, focusing on the long-term and his portfolio is composed primarily of dividend-paying equities. Mathieu has a moderate risk profile and also looks for growth and value. His passion for finance and the markets have led him to his MBA and writing for Seeking Alpha and Stocktrades. Mathieu also focuses primarily on stock research and content production for Premium and the Stocktrades blog.