Ethereum has emerged as one of the most influential blockchain platforms in the world, powering decentralized applications, smart contracts, and a vast ecosystem of digital assets. As institutional and retail interest grows, Canadian investors now have a regulated and accessible way to gain exposure to Ethereum—through Ethereum ETFs.
Following the successful launch of Bitcoin ETFs in early 2023, Canada welcomed its first wave of Ether exchange-traded funds (ETFs) in April 2023. These funds allow investors to gain exposure to Ethereum’s price movements without the complexities of managing private keys or using cryptocurrency exchanges directly.
This guide explores the top Ethereum ETFs available on the Toronto Stock Exchange (TSX), compares their fees, performance, and features, and explains how to invest with confidence.
What Is an Ethereum ETF?
An Ethereum ETF (Exchange-Traded Fund) is a financial product that tracks the price of Ether (ETH), the native cryptocurrency of the Ethereum network. These funds hold actual ETH in secure cold storage and issue shares that trade on traditional stock exchanges like the TSX.
Investing in an Ethereum ETF offers several advantages:
- Regulated access to digital assets
- Eligibility for registered accounts like TFSAs, RRSPs, and RESPs
- No need to manage wallets or private keys
- Protection under the Canadian Investor Protection Fund (CIPF) when held through eligible brokerages
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Top 4 Ethereum ETFs in Canada
As of 2025, four major Ether ETFs are listed on the TSX, each offering slightly different fee structures, currency options, and management approaches.
1. CI Galaxy Ethereum ETF (ETHX)
The CI Galaxy Ethereum ETF is one of the largest and lowest-cost Ether ETFs in Canada.
- Ticker Symbols: ETHX.B (CAD), ETHX.U (USD)
- Inception Date: April 16, 2021
- Assets Under Management (AUM): $497 million
- Management Fee: 0.40%
- MER (Management Expense Ratio): Up to 0.77%
- 1-Year Return (as of Jan 2025): 55.4%
- Cold Storage: 100%
- Eligible Accounts: RRSP, TFSA, RESP, RRIF, RDSP, DPSP
Why Choose ETHX?
With the lowest management fee among Canadian Ether ETFs and broad tax-sheltered account eligibility, ETHX is ideal for cost-conscious investors seeking long-term exposure to Ethereum.
How to Buy ETHX in Canada
You can purchase ETHX through any self-directed brokerage account. Platforms like Questrade and Wealthsimple Trade offer commission-free ETF trades, making them excellent choices for minimizing costs.
2. Purpose Ether ETF (ETHH)
Purpose Investments, a pioneer in crypto ETFs, launched the Purpose Ether ETF shortly after regulatory approval.
- Ticker Symbols: ETHH (CAD hedged), ETHH.B (CAD unhedged), ETHH.U (USD unhedged)
- Inception Date: April 19, 2021
- AUM: $359 million
- Management Fee: 1.00%
- MER: Up to 1.50%
- 1-Year Return (as of Jan 2025): 40.93%
- Cold Storage: 100%
- Eligible Accounts: Registered and non-registered
Why Choose ETHH?
ETHH offers currency-hedged options, which can help mitigate USD-CAD exchange rate fluctuations—a valuable feature for conservative investors.
How to Purchase ETHH
Like other ETFs, ETHH can be bought via discount brokerages such as Questrade or Wealthsimple Trade. Its multiple share classes provide flexibility depending on your currency preferences.
3. Evolve Ether ETF (ETHR)
Managed by Evolve ETFs, a growing player in the Canadian ETF space, ETHR provides direct exposure to Ethereum with transparent pricing.
- Ticker Symbols: ETHR (CAD), ETHR.U (USD)
- Inception Date: April 20, 2021
- AUM: $68 million
- Management Fee: 0.75%
- MER: Not disclosed
- 1-Year Return (as of Jan 2025): 55.43%
- Cold Storage: 100%
- Reference Index: CME CF Ether-Dollar Reference Rate
Why Choose ETHR?
Despite smaller AUM, ETHR has delivered strong performance and uses a reputable benchmark index for valuation accuracy.
How to Buy ETHR in Canada
Available through major online brokerages including Questrade, Wealthsimple Trade, and bank-affiliated platforms.
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4. 3iQ CoinShares Ether ETF (ETHQ)
3iQ is known for its early adoption of digital asset funds and offers both Bitcoin and Ethereum ETFs.
- Ticker Symbols: ETHQ (CAD), ETHQ.U (USD)
- Inception Date: April 19, 2021
- AUM: $89 million
- Management Fee: 1.00%
- MER: Up to 2.12%
- 1-Year Return (as of Dec 2024): 45%
- Cold Storage: 100%
- Units per ETH: ~254
Why Choose ETHQ?
While it has the highest MER among the four, ETHQ is well-established and trusted by institutional investors.
How to Purchase ETHQ
Accessible via self-directed brokerage accounts—same as other TSX-listed ETFs.
Ethereum ETF vs. Buying Ether Directly
Choosing between an ETF and direct ownership depends on your goals, risk tolerance, and technical comfort level.
| Factor | Ethereum ETF | Direct Ether Purchase |
|---|---|---|
| Regulation & Security | High – regulated by IIROC; CIPF protection | Medium – depends on platform security |
| Account Eligibility | TFSA, RRSP, RESP eligible | Not allowed in registered accounts |
| Custody Responsibility | None – fund holds ETH | You manage private keys/wallets |
| Fees | Management fees apply (0.4%–2.12%) | Trading fees only; no ongoing MER |
| Flexibility | Limited to ETH price exposure | Can stake, swap tokens, use DeFi |
⚠️ Note: The Canada Revenue Agency (CRA) prohibits holding cryptocurrencies directly in registered accounts like TFSAs or RRSPs as they are considered prohibited investments. ETFs bypass this issue by being structured as permitted securities.
Frequently Asked Questions (FAQ)
Q: Are Ethereum ETFs safe in Canada?
A: Yes. Canadian Ethereum ETFs are regulated by provincial securities commissions and hold assets in cold storage with reputable custodians. When held through a CIPF-member brokerage, your investment is protected up to $1 million.
Q: Can I hold an Ethereum ETF in my TFSA?
A: Yes—unlike direct crypto purchases, Ethereum ETFs are approved for TFSAs, RRSPs, RESPs, and other registered accounts.
Q: Do Ethereum ETFs pay dividends?
A: No. These funds do not generate income from staking or lending; they simply track the price of ETH.
Q: Which Ethereum ETF has the lowest fee?
A: The CI Galaxy Ethereum ETF (ETHX) has the lowest management fee at just 0.40%.
Q: Can I stake my Ethereum through an ETF?
A: No. ETF shareholders do not own the underlying ETH directly and cannot participate in staking or governance.
Q: How are Ethereum ETFs taxed?
A: In non-registered accounts, capital gains apply when you sell shares at a profit. In registered accounts like TFSAs, gains are tax-free.
Final Thoughts: Should You Invest in an Ethereum ETF?
Ethereum ETFs offer a streamlined, secure, and tax-efficient way for Canadian investors to gain exposure to one of the most important digital assets in the world.
For those who value simplicity, regulatory compliance, and integration with traditional portfolios, ETHX stands out due to its low fees and broad account eligibility.
However, if you're technically inclined and want full control over your assets—including staking rewards—buying Ether directly on a regulated exchange may be more suitable.
👉 Compare real-time prices and explore advanced trading features today.
Whether you're building long-term wealth or diversifying your portfolio, Ethereum remains a cornerstone of the digital economy—and now, it's easier than ever for Canadians to invest responsibly.