VanEck Files For Ethereum ETF, Under Review By SEC.

VanEck Files For Ethereum ETF, Under Review By SEC.

2021-05-08 | Big Bob

VanEck Files For Ethereum ETF, Under Review By SEC.

ETF [Exchange-traded fund] startup VanEck has filed for an Ethereum-based ETF, public records reveal. The company, which presently features a proposed bitcoin ETF under review by the SEC [Securities and Exchange Commission] proposed an ether ETF earlier on Friday that will now allow retail and institutional traders to realize exposure to the world’s second-largest cryptocurrency by market cap without requiring them to directly invest in it. VanEck intends to operate in collaboration with Cboe BZX Exchange on the offering. The same exchange is providing support for VanEck’s proposed bitcoin ETF. The SEC has postponed any decision on VanEck’s bitcoin ETF proposal to next month. Within the past, the SEC has taken the maximum amount of time as it legally can, about 240 days, to gauge ETF proposals. The federal securities regulator has yet to approve an ETF within the United States. If VanEck’s proposal is approved, this would be the primary U.S.’s approved ether ETF, but not the primary in North America. Canadian regulators have already approved several ether ETFs. WisdomTree, another company hoping to launch a bitcoin ETF within the U.S., has also listed an ether ETP [Exchange-traded Product] in Germany as well as Switzerland.

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