Wisdomtree Files for Ethereum ETF with SEC

Asset manager Wisdomtree has filed an application for the Ethereum exchange-traded fund (ETF) as the Securities and Exchange Commission continues to rethink the implementation of Bitcoin ETF from the beginning of this year. The move comes amidst Ethereum's growing popularity. Now that Ethereum has a much greater use case compared to its older, larger counterpart in Bitcoin, institutions are finally getting to know. It's also worth noting that Ethereum outperformed Bitcoin by far before the May crash. Despite the collapse that caused Ethereum (ETH / USD) to drop 40% from its all-time high, the second largest cryptocurrency by market cap continues to outperform Bitcoin (BTC / USD) throughout the year. Source: Tradingview.com If approved, Wisdomtree's Ethereum ETF will be the second US public fund after Vaneck. This will allow traditional stock market investors to be exposed to Ethereum without buying the crypto directly. The prospectus classified Ethereum as "a digital asset not issued by any government, bank or central institution, and the second largest cryptocurrency after market capitalization after Bitcoin". Expose to the price of ether with less costs and liabilities of Trust's business. To achieve the investment target, the Foundation will hold and value its stocks on the basis of [CF Ether-Dollar US Settlement Price], which is an independently calculated value based on the sum of trade flows executed daily from the main ether point. changes. Some Canadian ETF producers have already initiated signature Ethereum funds. For example, Purpose Investments was approved by Canadian financial regulators in April. Traded on the Toronto Stock Exchange, ETHH has seen its assets under management (AUM) rise to over $ 169 million since its launch. Related Reading | Goal Investments Launches World's First Ethereum ETF For Wisdomtree, Ethereum Trust Will Be Listed

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