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Canadian Business Journal, Aimed Investments Comments on Cryptocurrency Fund Plans Following Ethereum Merger

TORONTO, Sept. 12, 2022 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) today announced that the Ethereum network’s Proof of Stake (PoS) consensus mechanism will be completed in the next few days. The exact timing of the merger based on the timeline provided by the Ethereum Foundation is expected to occur by September 20, 2022, with current estimates pointing to September 15, 2022.

Post-merger, Purpose’s three funds with exposure to Ethereum – Purpose Ether ETF (TSX ticker: ETHH), Purpose Ether Yield ETF (TSX ticker: ETHY), and Purpose Crypto Opportunities ETF (TSX ticker: CRYP) – will remain Get exposure. To Ether, defined as the native account unit within the Ethereum network. Given the support the move to PoS has received from both the Ethereum Foundation and the broader Ethereum community, the Purpose Fund will retain only Ether as the currency denomination of the Ethereum network, which will operate using the PoS consensus mechanism after the merge. I expect

In the event of one or more proof-of-work forks, Purpose will monetize the forked assets as soon as reasonably practicable in light of market conditions, risk and viable infrastructure. It’s a schedule. The purpose is to reinvest the proceeds from the sale of Ether PoW into his Ether PoS in line with the purpose of the fund.

After launching the world’s first spot Bitcoin ETF last year, Purpose has become a global leader in digital asset management. Its cryptocurrency ETFs have the ability to accurately track the performance of the underlying cryptocurrency token, giving the fund a competitive advantage over futures-based products and non-redeemable trusts. It is popular in the industry for medium-sized private investors and institutions. Following the merge, Purpose is excited to continue bridging the gap between the cryptocurrency community and the traditional financial services sector, reducing friction for investors in accessing the crypto space.

Purpose remains committed to educating investors about this emerging new asset class, regularly publishing timely research and digital asset thought leadership on Purpose Crypto Corner, a cryptocurrency education hub. . If you want to learn more about the merge and how we believe Purpose could impact investors, you can read our Ether 101 Whitepaper, Staking Primer Primer, Ethereum Triple Articles on the halving, what investors should know about merging, and the benefits of staking.

For more information on the Purpose Ether Fund, please click here: Purpose Crypto Fund.

Purpose investment

Purpose Investments is an asset management firm with over $13 billion in assets under management. Purpose is a relentless focus on client-centric innovation and offers a range of results-focused products. Purpose Investments is a division of Purpose Unlimited, a technology-driven independent financial services company led by renowned entrepreneur Som Seif.

For more information, please contact:
Keira Hart
[email protected]

The contents of this document are for informational purposes only and are not offered in connection with an offering of any securities described herein, nor are they a recommendation or solicitation to buy or sell any securities. This information is not investment advice and is not tailored to the needs or circumstances of any investor. The information contained in this document is believed to be accurate and reliable, but cannot be guaranteed to be complete and up-to-date at all times. Information provided is subject to change without notice.

Fees, tracking fees, administration fees, and expenses may all be associated with investing in investment funds. Please read the prospectus and other disclosure documents before investing. When securities are bought or sold on a stock exchange, you can pay more or receive less than their current net asset value. Investment funds are not guaranteed, their values ​​change frequently and past performance may not be repeated.

CBJ Newsmaker

Canadian Business Journal, Aimed Investments Comments on Cryptocurrency Fund Plans Following Ethereum Merger

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