Meanwhile, the Hashdex Nasdaq Ethereum Reference Price Index Fund goes live in Brazil next week.

Delaware-based digital asset investment manager Kryptoin has filed a proposal with the U.S. Securities and Exchange Commission to launch a physically-backed Ethereum exchange-traded fund (ETF). (FXSTREET)

Kryptoin eyes Ether ETF approval

The ETF would provide exposure to the second-largest cryptocurrency by relying on the CF Ether-Dollar US Settlement Price. Investors, therefore, do not need to physically hold the cryptocurrency.

If Kryptoin’s application is approved, the shares of the “Kryptoin Ethereum ETF Trust” will trade on the CBOE BZX exchange.

Custody for the Ether purchased by Kryptoin will be provided by Gemini Trust Company.

VanEck and WisdomTree have also filed similar applications with the SEC.

Hashdex Nasdaq Ethereum Reference Price Index Fund

The Hashdex Nasdaq Ethereum Reference Price Index Fund will go live on the Brazilian Stock Exchange on Wednesday, August 18.

The new 100% Ether ETF will mirror an overseas fund called the Hashdex Nasdaq Ethereum ETF, which in turn reflects a composite ether index.

“Ethereum is one of the main platforms that serve as the basis for a new evolution of the internet, the so-called Web 3.0. Its token, ether, is the fuel that drives this new internet and has great potential for value as technology evolves and its adoption increases”, said Samir Kerbage, technology director (CTO) at Hashdex in a statement.

The ETF will levy an administration fee of 0.7%, while Banco Genial will be the custodian of the fund’s assets.

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