Fund Manager Wisdomtree Files With SEC to List Ethereum ETF on Cboe BZX – Finance Bitcoin News
Ethereum (ETH) has been gaining traction as a cryptocurrency for almost a year now. With a market cap of $21.3 billion, it is the second-highest cryptocurrency on the market, and it is gaining market share on Bitcoin (BTC). One of the more notable Ethereum enthusiasts is cryptocurrency fund manager, and founder of the $1.8 billion Pantera Capital Management, Dan Morehead. In an interview with CNBC’s Fast Money, he said that he is a buyer of Ethereum (ETH). Ethereum (ETH) is the only cryptocurrency that is backed by a Fortune 500 company, Microsoft.
The United States Securities and Exchange Commission (SEC) has received an application for a bitcoin exchange-traded fund (ETF) from fund manager WisdomTree. The company filed on June 30, for a launch on the US stock exchange Cboe BZX Exchange. The ETF will be backed by a group of companies which include Ethereum Classic.
Blockchain technology has been hailed as a potential disruptor to banking, payments, and even governments. But many investors have been unable to access it. Until now. It was announced that a new Ethereum ETF will be launched, available for trade on the Chicago Board of Exchange. This new investment option will allow many more people access to the digital currency.. Read more about will ethereum crash 2021 and let us know what you think.
Asset manager Wisdomtree is the second company to file for an exchange-traded fund (ETF) based on Etherium, following Vaneck’s filing on the 7th. May made a request to that effect. A recent S-1 filing with the U.S. Securities and Exchange Commission (SEC) shows that the fund’s investment objective is to profit from the price of ether.
Wisdomtree is following Vanek’s lead and filing for an Ethereum-basedETF.
Wisdomtree announced Thursday plans to list an ether-based ETF on the Cboe BZX exchange, according to the company’s latest S-1 filing. The SEC must approve the ETF, and if the regulator approves it, investors can buy shares of Wisdomtree Etherium through regulated brokerage firms. The prospectus describes Ether as a digital asset that is not issued by a government, bank or central organization and is the second largest cryptocurrency by market capitalization after Bitcoin. The WisdomTree Ethereum Trust is a Delaware Statutory Trust established on March 8, 2021. The sole purpose of the Wisdomtree ETH ETF is : Obtain information on the price of ether, net of trust fees and debt. In pursuing its investment objective, the Trust will hold Ether and value its shares daily based on the [CF Ether U.S. Dollar Settlement Price], which is an independently calculated value based on the sum of the trading flows executed on the major cash Ether exchanges.
Ethereum Trust will oversee the reporting of emerging growth companies
Wisdomtree’s bitcoin (BTC)-based exchange-traded fund was recently audited by the U.S. Financial Industry Regulatory Authority, and the company recently launched an Ether-based exchange-traded product (ETP). Wisdomtree’s Ethereum ETPs are listed on the German exchange Xetra and the Swiss exchange (SIX). Wisdomtree said Thursday in an S-1 application that the Etherium trust will qualify as an emerging growth company and benefit from the JOBS Act’s reduced reporting requirements. For example, a trust is not required to file an audit report or follow the recommendations of the Public Company Accounting Oversight Board of 2012 unless the SEC approves those actions. The trust will cease to be an emerging growth company when its annual revenue reaches $1.0 billion or more, Wisdomtree said in a statement about the Etherium ETF. What do you think of the presentation of the Wisdomtree Ether ETF? Let us know what you think in the comments below.
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Cboe, Cboe BZX, Deutsche Börse Xetra, ETF, ETF filing, ETH, ETF ETH, Ether, ETF Ether, Ethereum, Ethereum (ETH), ETF Ethereum, ETP, JOBS Act, SEC, six, US SEC, vaneck, vaneck asset manager, Wisdomtree, Wisdomtree Ether Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.The U.S. Securities and Exchange Commission (SEC) has received a filing for an exchange-traded fund (ETF) on Ethereum (ETH). This is an interesting development in the cryptocurrency sector because it is the first time an entity has tried to list an ETF on Ethereum. The ETF in question is the Ethereum WisdomTree ETF, which is being proposed by the Chicago Board Options Exchange (CBOE). The Ethereum WisdomTree ETF is linked to the WisdomTree Ethereum Wisdom (ETHW) index.. Read more about future of cryptocurrency 2021 and let us know what you think.
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