Investment Firm Kryptoin Files for Ether ETF

As the SEC weighs approving its first bitcoin ETF, Kryptoin and others are getting in line for an ETH ETF.

By James Rubin

Aug 12, 2021 at 6:50 p.m. UTC

Updated Sep 14, 2021 at 1:39 p.m. UTC

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

James Rubin

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

Kryptoin Investment Advisors filed a proposal with the U.S. Securities and Exchange Commission (SEC) on Thursday for an ether exchange-traded fund (ETF).

The Delaware-based firm said in its proposal that the Kryptoin Ethereum ETF Trust's "investment objective" would be "to provide exposure to Ethereum at a price that is reflective of the actual Ethereum market where investors can purchase and sell Ethereum."
Kryptoin said the trust "will not purchase or sell ether directly, although the Trustee may sell ether to pay certain expenses. Instead, when it sells or redeems its shares, it will do so in 'in-kind' transactions in blocks of 100,000 shares."
The SEC has been reviewing Kryptoin's application for a bitcoin ETF. The company first submitted a bitcoin ETF proposal in October 2019.
The agency is weighing multiple crypto applications, but none has met muster in the U.S.
VanEck filed for a similar ETH vehicle in May.

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 a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

James Rubin

Learn more about Consensus 2023, 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.

James Rubin