World-first Ether ETF debuts in Canada… With a trading halt
The world’s first Ether-based fund to be listed on a major stock exchange opened for trading on Thursday, but not without some hiccups. Listed on the Toronto Stock Exchange, The Ether Fund (TSX:QETH.U) opened for trading at $10.80 per share after completing a successful IPO in which $76.5 million was raised.
To the concern of interested traders, the fund was not available for trading upon the opening bell, officially halted because of a delay in closing the fund’s IPO prospectus. Trading actually commenced two hours late, with 345,331 shares being traded across the rest of the day. The fund reached an intra-day high of $11.48 before closing at $11.02. This represents a gain of 2.5% on a trading day in which the price of ETH was down by around 0.5%, creating a premium on the price of QETH.U shares.
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