ICYMI: Crypto ETFs in Canada and Brazil tumbled during Monday session
The US has yet to approve spot-based crypto ETFs, but Canada and Brazil did in early 2021.
Bitcoin's price fell to lows not seen since December 2020 on Monday, dropping over 10% in a day and trading at around $23,400 at the time of writing.to see significant fallout. In the US, regulators have yet to approve spot-based crypto ETFs to trade on a regulated exchange, but neighbors to the north and south have, and those products saw significant fallout today.
But these products fell sharply today as crypto and equities saw considerable turbulence. Evolve's EBIT fell 19.25% today, dropping from 13.87 CAD to 11.39 at open. At close EBIT had fallen further to 11.20 CAD. Ethereum-based products on TSX saw the worst of it, cratering nearly about 25% at open. Purpose, Evolve and CI and Galaxy allEther-based funds shortly after the Ontario Securities Commission allowed bitcoin ETFs to trade.
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