Canadian pension funds announces launch of public Ethereum company

One of the biggest pension funds in Canada has recently announced the launch of a public company that will be focusing on Ethereum. Their plan is to raise around $50 milion CAD in funding through the sale of 20 milion subscription shares which will cost $2,50 CAD each. The offering will close around February 16th.

The company has supported blockchain projects in the past. One of these projects was Citizen Hex.

OMERS stated that the new company intents to acquire ETH which might mean the price of ETH will get a boost in the near future.

What do you think, will 2018 be the year of the Flippening*?

*The flippening means that a different currency, in this case ETH, takes the place of the Bitcoin as the #1 currency by market cap.