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Canada Based Purpose Ether ETF AUM Breach 50,000 ETH

source-logo  coingape.com 29 May 2021 10:07, UTC
The Canadian Purpose Group Ether ETF  has breached 50,000 ETH worth $122.7 million in AUM even when the price of the second largest cryptocurrency has registered a 50% decline from the top during the recent market correction. The Ether ETF was launched by the firm on April 20 and in just over a month it has reached a major milestone indicating high institutional demand for the second-largest cryptocurrency.

Eth is currently trading just above $2,400 with a price decline of 2% over the past 24-hours. Ether’s institutional demand has peaked this bull season and some of the top financial giants including the likes of  JP Morgan and Goldman Sachs have heaped praises for the second-largest digital asset and even claimed it has the potential to unseat Bitcoin as the store of value.

coingape.com