Skip to main content

Fund Manager Wisdomtree Files With SEC to List Ethereum ETF on Cboe BZX

Fund Manager Wisdomtree Files With SEC to List Ethereum ETF on Cboe BZX

The financial asset manager, Wisdomtree, is now the second institution to file for an ethereum-based exchange-traded fund (ETF), following Vaneck’s recent filing on May 7. The recently filed S-1 with the U.S. Securities and Exchange Commission (SEC) says the fund’s “investment objective is to gain exposure to the price of ether.”

Wisdomtree Follows Vaneck’s Lead and Files for an Ethereum-Based ETF

On Thursday, Wisdomtree revealed it wants to list an ether-based ETF on Cboe BZX Exchange, according to the firm’s latest S-1 filing. The SEC must approve the ETF and if the regulator does, investors can purchase Wisdomtree’s ether trust shares via regulated brokerage services.

The prospectus describes ether as “a digital asset that is not issued by any government, bank or central organization, and is the second-largest cryptocurrency by market capitalization behind bitcoin.” The WisdomTree Ethereum Trust is a Delaware statutory trust, invoked on March 8, 2021. The Wisdomtree ETH-based ETF’s sole objective is to:

Gain exposure to the price of ether, less expenses, and liabilities of the Trust’s operations. In seeking to achieve its investment objective, the Trust will hold ether and will value its Shares daily based on the [CF Ether-Dollar US Settlement Price], which is an independently calculated value based on an aggregation of executed trade flow of major ether spot exchanges.

Ethereum Trust Will Follow Emerging Growth Company Reporting

In recent times, Wisdomtree’s bitcoin (BTC)-based exchange-traded fund was being reviewed by the U.S. financial regulator, and the company recently launched an ether-based exchange-traded product (ETP). Wisdomtree’s ethereum ETPs are listed on Deutsche Boerse’s Xetra and Switzerland’s Swiss Stock Exchange (SIX).

Wisdomtree’s S-1 filed on Thursday says the ether trust will qualify as an “emerging growth company,” and leverage the JOBS Act reduced reporting requirements. For instance, the trust doesn’t have to present an auditor’s attestation report or comply with 2012’s Public Company Accounting Oversight Board guidelines, unless the SEC disapproves of these actions.

“The Trust will cease to be an ‘emerging growth company’ upon the earliest of it having $1.0 billion or more in annual revenues,” Wisdomtree’s ether ETF filing notes.

What do you think about Wisdomtree’s ether-ETF filing? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/3hZt7D8
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more