In VanEck’s footsteps earlier this month Wisdom Tree has filed an application with the US Securities and Exchange Commission for an Ether (ETH) ETF fund.
According to information from May 27th The ETF’s shares would be traded on the Chicago Board Options Exchange’s BZX.
On May 7, the competing ETF issuer VanEck also filed an application to trade an Ether ETF on the same exchange.
Wisdom Tree’s application comes because the SEC has begun formal review of the Bitcoin (BTC) ETF applications submitted by Fidelity and SkyBridge, respectively.. Filing is a long way from Wisdom Tree’s first rodeo as the issuer has filed numerous applications for Bitcoin ETFs in recent years.
While US investors do not yet have access to an Ether ETF, Canada’s financial regulators approved three Ether funds on April 17th.
The funds were launched in the last month, and Galaxy Digital’s Ether ETF was the eleventh most widely traded asset on the Toronto Stock Exchange after its first day of trading, while the Purpose Ether ETF took 20th place.
Eric Balchunas, Senior Analyst at Bloomberg ETF, commented: “Things will go crazy when these things are approved in the US.”
Quick Takeaway: Sht go insane for approving these things in the US
– Eric Balchunas (@EricBalchunas) April 20, 2021
Despite the lack of an Ether ETF in the US, US institutional appetite for ETH appears to be growingThe entries for Ethereum investment products exceed those for BTC products earlier this month.
Grayscale’s Ethereum Trust stocks have also risen recently, trading at a double-digit premium above the spot price of the underlying asset.e, while the company’s Bitcoin Trust shares have been trading at a discount since March.