Financial giant WisdomTree, with $ 70 billion in assets under management, filed with the US Securities and Exchange Commission (SEC) to launch ETF based on Ethereum.
According to the document, WisdomTree Ethereum Trust shares will be listed on Cboe BZX. The company will later determine the custodian and ticker of the instrument.
The mechanism for determining the estimated ETF price is based on the same methodology that uses CME to determine the quotes of futures on Ethereum.
In April 2021, the SEC began reviewing WisdomTree’s application to launch a Bitcoin ETF. The management company is second only to VanEck to apply for an Ethereum-ETF listing in the United States.
In the same month, Canadian regulators allowed three ETFs to trade on the Toronto Stock Exchange based on the second largest cryptocurrency from Purpose Investments, CI Global Asset Management and Evolve Funds Group. It later received Ethereum ETF approval from 3iQ Corp and CoinShares.
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