By Solomon Odunayo
As a report has it, WisdomTree, a New York-based exchange-traded fund and exchange-traded product sponsor and asset manager, has filed for an ETF based on Ethereum (ETH), according to a new S-1 filed with the United States Securities and Exchange Commission (SEC).
WisdomTree plans to list Ethereum Trust on Cboe BZX Exchange. According to The Block, the proposal is yet to settle on a ticker or a custodian. The report added that Delaware Trust Company is the proposed trustee:
“As the Shares are listed on the Exchange, investors can indirectly invest in a portfolio comprised of ether through a traditional brokerage account.
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“The Trust provides investors with the opportunity to access the market for ether through a traditional brokerage account without the potential barriers to entry or risks involved with holding or transferring ether directly, acquiring it from an ether exchange, or mining it.”
WisdomTree Is the Second to Apply For an Ethereum ETF
According to the report, WisdomTree is the second to file for an Ethereum ETF following VanEck’s submission earlier this month.
The two firms plan to list on Cboe and have Bitcoin ETF proposals that they also plan to list on Cboe presented to the regulator.
However, the SEC is yet to approve any crypto ETF offering, while many Bitcoin ETFs have been stopped since the SEC’s approval is not forthcoming.
Compared to Canada, the reverse seems to be the case, as several ETH ETFs have already been approved in the country. The approval started coming one after the other, following the green light given to Bitcoin ETFs by the Canadian regulators.
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What is the Meaning of Exchange-Traded Fund (ETF)
The Exchange-Traded Fund (ETF) can be described as a vehicle for gaining exposure to the price of Ethereum (ETH) with shares priced by the CF-Ether-Dollar US Settlement Price.
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