Wisdomtree fund manager files with SEC list of Ethereum ETFs on Cboe BZX – finance bitcoin news
Financial asset manager Wisdomtree is now the second institution to file an ethereum-based exchange-traded fund (ETF) application, following Vaneck’s recent filing on May 7. The recently filed S-1 with the Securities and Exchange Commission (SEC) states that “the fund’s investment objective is to gain exposure to the price of ether.”
Wisdomtree follows Vaneck’s lead, files for Ethereum-based ETF
Wisdomtree revealed on Thursday that it wants to list an ether-based ETF on Cboe BZX Exchange, according to the company’s latest statement. S-1 deposit. The SEC must approve the ETF and if the regulator does, investors can buy Wisdomtree’s Ether Trust shares through regulated brokerage services.
The prospectus describes the 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 sole purpose of the Wisdomtree ETH ETH is to:
Gain exposure to the price of the ether, less the expenses and liabilities of the Trust’s operations. In seeking to achieve its investment objective, the Trust will hold ether and value its shares on a daily basis based on [CF Ether-Dollar US Settlement Price], which is an independently calculated value based on an aggregation of executed trade flows from major spot ether exchanges.
Ethereum Trust to Follow Reports from Emerging Growth Companies
Lately, Wisdomtree bitcoin (BTC), an exchange-traded fund was under review by the U.S. financial regulator, and the company recently launched an ether-based exchange traded product (ETP). Wisdomtree ethereum ETPs are listed on Deutsche Boerse’s Xetra and on the Swiss Swiss Stock Exchange (SIX).
Wisdomtree’s S-1, filed Thursday, says the Ether Trust will be labeled an “emerging growth company” and will take advantage of the JOBS Act which has reduced reporting requirements. For example, the trust does not have to provide an auditor’s attestation report or comply with the 2012 Public Company Accounting Oversight Board guidelines, unless the SEC disapproves of those actions.
“The Trust will cease to be an ’emerging growth company’ as soon as the first one has annual sales of $ 1.0 billion or more,” notes Wisdomtree’s ether ETF filing .
What do you think of the Wisdomtree Ether-ETF repository? Let us know what you think of this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
Warning: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.