United States investment bank Goldman Sachs Plans to Offer Ethereum (ETH) Derivative Products
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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.

Read Also: Gaming Retailer GameStop Is Building a Non-Fungible Token (NFT) Platform On Ethereum Blockchain

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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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.