Ether Investment Firm Begins Trading on Canadian Stock Exchange
From Coindesk
The stock for cryptocurrency investment firm Ether Capital has begun trading on a Canadian stock exchange.Read more: https://www.coindesk.com/ethereum-investment-vehicle-begins-trading-on-canadian-stock-exchange/Formerly known as Ethereum Capital, the investment fund's shares went live on the NEO Exchange in Toronto Thursday. The company plans to invest the funds it raises both into startups developing projects in the space as well make direct purchases of ether - the cryptocurrency of the ethereum network - as previously reported.
Co-CIO Ben Roberts told CoinDesk that the company raised $45 million Canadian (out of a planned $50 million), which will be mostly be converted into ether over the next four weeks. Ultimately, some 90 percent of the raised funds will be converted into the cryptocurrency, though Roberts declined to say how much the company had already converted
"I think it's going to take the market some time to really understand the value proposition here," he said, explaining:
"The utility of that is two-fold, yes it gives people exposure in the marketplace and more importantly creating that pool of assets gives us space in the community and the ethereum platform. As we kind of scale that out we can have an opportunity to become something like ConsenSys, which is a large organized stakeholder in ethereum which can then use its platform to create value."
I see more and more ads for crypto investments all over the Toronto financial district. Many of them are hard to tell what the company does they often mention just being the future. I think it's only a matter of time before we start seeing the institutional investors start jumping in.
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