Another Ethereum ETF now for SEC

Cryptoin, an investment firm specializing in digital assets, filed an application with the Securities and Exchange Commission (SEC) on the ethereum ETF. If approved, the fund will be traded on the ETF Cryptoin Ethereum Cboe BZX Exchange.

ETFs, abbreviated from exchange-traded funds, are investment instruments that allow people to trade a group of securities, such as when they buy or sell stocks. Therefore, the ethereum ETF will depend on the ETH price, which will allow investors to access the asset without worrying about guardianship. The issuer is committed to reducing operating costs.

Several companies, including Vaneck, Accurate and Anthony Scaramucci Skybridge Capital, have asked the SEC to start with an etf tied to the price of bitcoin or ether, but the agency has so far declined.

VanEck files for futures bitcoin ETF after SEC hints at Path to approval
For now, the closest to US ETFs is an investment trust such as the GBTC grayscale trust. But they differ in a few important respects. It is important to note that Grayscale is a closed-end fund; only a certain number of stocks are available and investors should hold them for several months, which decodes large differences between the crypto asset price and the crypto ETF’s stock price. 

Shades of Grey are traded at a 10% discount, which means you can buy cheaper than real bitcoins. ETFs will be much closer to the active trading price.

Canada approved its first bitcoin and Ethereum ETFs earlier this year. Crypto-financial institutions hope the United States will follow suit.

Join the Discussion

  • BrokerEUR/USD
    CMC Markets 0.7pips. (variable) margin: 3.33%
    IG 0.6pips (fixed) margin: 3.33%
  • Back to top