WisdomTree becomes the second to file for an ETH ETF with the SEC


WisdomTree has filed for an exchange-traded fund (ETF) based on ether, according to a new S-1 filed with the Securities and Exchange Commission. 

The so-called WisdomTree Ethereum Trust plans to list on Cboe BZX Exchange, the same venue it plans to list shares of its proposed bitcoin ETF. The proposal will be updated as it goes forward, but so far it's yet to settle on a ticker or a custodian. Delaware Trust Company is the proposed trustee.

The ETF is a vehicle for gaining exposure to the price of ether with shares priced by the CF-Ether-Dollar US Settlement Price. As the filing notes:

"As the Shares are listed on the Exchange, investors can indirectly invest in a portfolio comprised of ether through a traditional brokerage account. 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 ETH ETF, following VanEck's submission earlier this month. Both entities plan to list on Cboe and have bitcoin ETF proposals before the regulator that they also plan to list on Cboe. Still, the SEC has yet to approve any crypto ETF offering, and many bitcoin ETFs have been stopped short of approval by the agency. 

But multiple ETH ETFs have already gone live in Canada. Those approvals came just weeks after Canadian regulators first gave bitcoin ETFs the green light. 

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Will Sanctions Drive Russia into the Arms of Cryptocurrencies?

From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC