Ether Crypto Fund Listed on Canadian Stock Exchange

Shares of the ETH-focused investment fund go live on the Toronto NEO exchange

by Marin Marinov
19 April • 1.5 min
In News

Ether Capital, a Toronto-based crypto venture capital fund, has started trading on the Canadian stock exchange NEO, the company said in a press release on Thursday.

The fund, whose strategy is to invest up to 90% of its capital in Ethereum`s native utility token and to acquire Ethereum-based companies, opened trading at USD 2.44 per share and slipped to USD 2.15 at closing.

“The completion of this transaction and commencement of public trading represents a critical step in Ether Capital’s mission,” Som Seif, executive chairman at Ether Capital, said.

“We are excited to provide investors with the opportunity to invest in the first publicly listed company focused solely on the Ethereum ecosystem and to help drive industry-shifting disruptive technologies,” Seif added in the official press release.

Ether Capital strategy

Ether Capital,  was created this month after the merger between crypto fund Ethereum Capital and Movit Media Corp, specialized in acquisitions. Seif decided to go into the crypto world because of his strong believe in blockchain and the high-growth potential of Ethereum ecosytem, he told Canadian news channel BNN.

Seif, who was executive chairman of Ethereum Capital, retained this position after the reverse takeover. The Board members of Ethereum Capital Inc. were elected as directors of the new joint company.

Prior to the merger, the old Ethereum Fund released private placement offering, raising USD 42.2 million. There is no available information about its investors but Ether Capital disclosed some companies that backed the project such as Canadian venture capital funds Version One and Omers as well as Purpose Investments.

Other funds focused on cryptocurrencies include Grayscale Investments fund and Digital Large Cap Fund.