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Ethereum Cracks $4,000-Rising Institutional Demand

The Ethereum price is currently unstoppable. Ether managed to break through the level at $4,000 in the early hours of the morning and is currently trading for $4,090. It seems that the massive increase in prices is due to increased institutional interest.

In Canada, there is already an Ethereum ETF approved by the Securities and Exchange Commission, and according to the latest findings, the demand for it is huge. After the introduction of an Etherum ETF about three weeks ago, the publisher of the ETH ETF Purpose Investments bought over 31,000 ETH. This is amazing considering that since launch, nearly 10,000 Ethereum have been accumulated weekly.

At the launch of the Ethereum ETF, ETH was still trading at $ 2100 on April 20. That means the second-largest cryptocurrency by market capitalization has risen nearly 100 percent in just three weeks.

Apart from purpose Investments, the ethers around ETFs Evolve Funds and CI Galaxy digital are available on the Toronto Stock Exchange (TSX). All three ETH ETFs are physically covered, which means investing directly in Ethereum and buying those coins from the market.

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