Crypto panic? Not in Canada. The largest pension fund in Canada, the Ontario Municipal Employees Retirement System (OMERS……..very clever), which handles over $50 billion for over 500K members is going to invest in ethereum DIRECTLY. OMERS formed a new company called Ethereum Capital and will buy ETH directly alongside a couple other forward thinking firms. Seems OMERS has been quite active in the crypto and blockchain sector for years and recognizes the potential of the new technology. It also seems that Canada and its progressive thinking fintech sector is way out in front of the good old USA. So, as any good trader knows, you buy LOW and sell HIGH. OMERS has a great buying opportunity while the crypto panic is on. Remember, one person’s panic is another persons opportunity.
(Bill Taylor/Founding Editor)
“The Ontario Municipal Employees Retirement System (OMERS), a pension fund created by statue that handles net investment assets of $50 billion serving almost 500,000 members, is to directly buy eth by backing a newly formed company called Ethereum Capital through its investments arm.
Ethereum Capital was created by OMERS, alongside Purpose Investments in which OMERS has a minority share, an OMERS-backed startup called Citizen Hex and L4 Ventures, a Toronto blockchain incubator advised by Vitalik Buterin, ethereum’s co-founder.
John Ruffolo, Executive Managing Director of OMERS Platform Investments and Board Director for Ethereum Capital, said:
“OMERS has been active in the blockchain and crypto sector for several years now. OMERS believes in the potential of blockchain technologies and I am thrilled to join a strong network of advisors as Ethereum Capital creates value in the sector.”
Ethereum Capital’s strategy is to buy eth itself, and to engage in strategic acquisitions of ethereum based businesses according to a statement.
Omers’ Ruffolo said this is “not currency speculation.” Instead they are investing on the “underlying entrepreneurial businesses,” before further adding:
“We believe in the long-term future of the blockchain as the technology that will be underpinning business and we are optimistic about the technologies associated with i
We believe Ethereum is going to be one of the foundational building blocks” in the blockchain space…”
Full Story at Trustnodes.com