Ether Capital, the cryptocurrency stock investment firm, has taken a vital step by trading on NEO exchange which is a Canadian stock exchange based in Toronto.
According to Som Seif, “The completion of this transaction and commencement of public trading represents a critical step in Ether Capital’s mission”. He also added that the company is extremely overwhelmed to share the window of investment to all the investors in “first publicly listed company” which completely focuses on Ethereum ecosystem.
90% of funds to get converted into ETH tokens
Ben Roberts, special investment officer of Ether Capital has shared his report, proclaiming that the company could raise 45 million dollars CAD which was about 10 percent less than the amount expected by the company. 20 million shares were supposed to be sold at 2.50 dollars each. But 18 million shares were sold as offers were made from Canaccord Genuity Corporation and CIBC Markets. He also mentioned the plans of the company to transform 90 percent of the fund into Ethereum tokens.
In a press release, this year, the company had shared its plans to use some of its resources to control the stakes in Ethereum-based businesses. Many firms faces challenge and difficulty in gainimg control over the cryptocurrency environment. But on the contrary, Ben proclaimed how smooth it was for them in setting up the Company. He mentioned how talking with Ontario securities Commission and later with the bank helped them in setting up a custody to safeguard the assets.
“Two fold” benefit :
Talking about the Company’s future, Ben shared his views that the market might take some time to understand the value of Ether Capital in the beginning but this will be beneficial in a “two fold“ way. According to him, the two fold way refers to the exposure investors will get in the market place and on the other hand, the Company will create space in the etheruem environment.