VanEck Files for an Ethereum Exchange-Traded Fund
The SEC is currently evaluating VanEck's bitcoin ETF proposal.
:format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/MGBQWWYF5FDX3O3VAUCFEEL7JY.jpg)
VanEck Director of Digital Asset Strategy Gabor Gurbacs
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Exchange-traded fund (ETF) startup VanEck has filed for an ether-based ETF, public records show.
The company, which currently has a proposed bitcoin ETF under review by the Securities and Exchange Commission (SEC) proposed an ether ETF on Friday that would allow retail and institutional traders to gain exposure to the world's second-largest cryptocurrency by market cap without requiring them to directly invest in it.
VanEck intends to work 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. In the past, the SEC has taken as much time as it legally can, about 240 days, to evaluate ETF proposals.
The federal securities regulator has yet to approve an ETF in the U.S.
If VanEck's proposal is approved, this would be the U.S.'s first ether ETF, but not the first in North America. Canadian regulators have already approved several ether ETFs. WisdomTree, another company hoping to launch a bitcoin ETF in the U.S., has also listed an ether exchange-traded product in Germany and Switzerland.
Disclosure
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.
Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.