VanEck files US Ether ETF application

Tuesday 11 May 2021 15:18 CET | News

US-based asset manager VanEck has filed an application with the United States Securities and Exchange Commission (SEC)  to list an exchange-traded Ether fund (ETF). 

The company wants to offer small and institutional investors easy access to the second largest cryptocurrency by market capitalisation without having to own it directly. The ETF goes by the name The VanEck Ethereum Trust and was published in an SEC filing on 7 May 2021. This development comes after VanEck filed multiple Bitcoin ETF applications with the US Securities and Exchange Commission, none of which have been approved.

The VanEck Ethereum Trust is the first Ether-based ETF to be filed in the US. According to the filing, the Trust’s investment objective is to reflect the performance of the MVIS CryptoCompare Ethereum benchmark course less the expenses of the Trust’s operation. In order to achieve its investment goal, the Trust will hold Ether (ETH) and value its shares daily on the reported MVIS CryptoCompare Ethereum Benchmark Rate. 

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Keywords: Ethereum, cryptocurrency exchange, cryptocurrency, crypto asset
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: United States
This article is part of category

Blockchain & Cryptocurrencies