Cryptocurrency News

Wisdom Tree files ether ETF application with SEC

Following in the footsteps of VanEck earlier this month, Wisdom Tree filed an application for an ether (ETH) Exchange-traded funds presented to the United States Securities and Exchange Commission.

By filing date May 26The ETF shares will be listed on the Chicago Board Options Exchange’s BZX Exchange.

On May 7, rival ETF issuer, VanEck, also Filed An application for an Ether ETF to be traded on the same exchange.

Wisdom Tree’s application comes because the SEC has launched it Formal review of bitcoin (BTC) ETF applications Presented by Fidelity and Skybridge respectively. The filing is far from the first rodeo of Wisdom Tree, with the issuer Filed many applications For bitcoin ETFs in recent years.

While US-based investors are not yet able to use Ether ETFs, Three Ether Funds Approved By financial regulators in Canada on 17 April.

Fund Launched with a bang Last month, Galaxy Digital’s Ether ETF included the 11th-most traded asset on the Toronto Stock Exchange after its first day of trading, while the Purpose Ether ETF ranked 20th.

Bloomberg senior ETF analyst Eric Balchunas commented, “Shutts will go crazy when they approve of these things in the US.”

Despite the lack of ether ETFs in the United States, US institutional hunger for ETH is increasing, along with Inflow of Ethereum Investment Products BTC overtook products earlier this month.

Ethereum Trust shares of Grayscale also recently. But have grown to do business Double digit premium Exceeding the spot value of its underlying asset, while shares of the firm’s bitcoin trust have traded at a discount since March.