Alt Investments/Digital: Kryptoin Applies To SEC For An Ethereum ETF
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.
Related Story: New Ethereum ETFs Launch In Canada
Latest Alternative Investment News
Hundreds of thousands of bats from about 40 species routinely nest under US bridges, and many of them are endangered or threatened. Transportation departments must mandatorily check for them before…
Amazon (NASDAQ: AMZN) installed AI-powered cameras in its delivery fleet in February as an investment in safety technology across its operations. The company said at the time the system would…
Wise (LON: WISE), the UK payments fintech previously known as TransferWise, has taken its first steps into investing solutions. Its Assets product allows users to invest in stocks but also…
ETF Managers Group, which created the highly successful Breakwave Dry Bulk Shipping ETF (NYSE: BDRY), has launched a sister ETF – the ETFMG Breakwave Sea Decarbonization Tech ETF (BSEA). The…