WisdomTree, the financial asset manager, is the second institution to file for an Ethereum-based exchange-traded fund (ETF), following Vanek’s recent filing on 7 May. Recently the S-1 was filed with the US Securities and Exchange Commission (SEC). ) States that the fund’s “investment objective is to gain exposure to the price of ether.”
Wisdomtree follows Vanek’s leads and files for an Ethereum-based ETF
On Thursday, WisdomTree revealed that it intends to list an Ether-based ETF on the Cboe BZX exchange, according to the firm’s latest. S-1 filing. The SEC should approve the ETF and if the regulator does, investors can buy Wisdomtree’s Ether Trust shares through regulated brokerage services.
The prospectus describes Ether as “a digital asset that is not issued by any government, bank, or central organization, and is the second-largest cryptocurrency by market capitalization behind bitcoin.” The Wisdomtree Ethereum Trust is a Delaware statutory trust, which was implemented on March 8, 2021. The sole purpose of Wisdomtree ETH-based ETFs is to:
Take advantage of the ether price, lower expenses, and liabilities of operating the trust. In an attempt to achieve its investment objective, the trust will hold ether and evaluate its shares on a daily basis. [CF Ether-Dollar US Settlement Price], Which is an independently calculated value based on the aggregation of executed trading flows of major ether spot exchanges.
Ethereum Trust Emerging Growth Company Reporting Will Follow
In recent times, WisdomTree’s Bitcoin (B T c) -Based exchange-traded funds were being reviewed by the US financial regulator, and the company recently launched an ether-based exchange-traded product (ETP). Wisdomtree’s Ethereum ETP is listed on the Deutsche Börse extras and the Swiss Stock Exchange (SIX) of Switzerland.
Wisdomtree’s S-1 filed on Thursday stated that Ether Trust would qualify as an “emerging growth company” and reduce the reporting requirements of the Jobs Act. For example, the trust is not required to submit an auditor’s verification report or follow the 2012 Public Company Accounting Oversight Board guidelines, unless the SEC disapproves of these actions.
Wisdomtree’s Ether ETF filing notes, “The trust will cease to be an ’emerging growth company’ if it has annual revenues of $ 1.0 billion or more at the earliest.”
What do you think about Wisdomtree’s Ether-ETF filing? Tell us what you think about this topic in the comments section below.
Image credit: Shutterstock, Pixabay, Vicky Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell a product, services, or companies, or a recommendation or endorsement of a product, services, or companies. Bitcoin.com Does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is directly or indirectly responsible for any damage or loss in connection with the use or reliance on any of the materials, goods or services mentioned in this article.