Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Cryptocurrency

Kryptoin files with the SEC to create an ETHER ETF

The Delaware-based digital finance firm Kryptoin has filed for an ether (ETH) exchange-traded fund (ETF), according to a Securities and Exchange Commission (SEC) filing. 

As per the ETH ETF filing: 

“The Trust’s investment objective is to provide exposure to Ethereum at a price that is reflective of the actual Ethereum market where investors can purchase and sell Ethereum, less the expenses of the Trust’s operations. In seeking to achieve its investment objective, the Trust will hold Ethereum (or “ETH”), and in seeking to ensure that the price of the Trust’s shares is reflective of the actual ETH market, the Trust will value its shares daily as determined by the CF Ether-Dollar US Settlement Price, which is an independently calculated value based on an aggregation of executed trade flow of major ETH spot exchanges.”

Kryptoin’s ETH ETF would function much like its proposed bitcoin ETF, which the firm initially filed for in 2019. Kryptoin amended its 2019 filing in April of this year, but the SEC opted to delay its decision on Kryptoin’s bitcoin ETF in June. 

If approved, Kryptoin’s Ethereum ETF would be listed on the Chicago Board Options Exchange (Cboe) — the exchange other companies have opted for when filing for a bitcoin ETF. 

However, the SEC has not approved a Bitcoin ETF in the United States to date, even though big names like VanEckNYDIG and Fidelity have applied. 

Bitcoin ETFs exist abroad, though, such as with Canada’s Ninepoint and Purpose  products.

THEBLOCKCRYPTO

Featured

NFT

Worldwide music and entertainment giant Warner Music Group (WMG) has joined forces with OpenSea to introduce dedicated landing pages for their artists. The WMG roster will...

Finance

Though the recent months haven’t been very good for the crypto industry, this could not deter some crypto investors from being bullish about this...

Altcoin

The down-trending market that took its resistance from $1.35134 on the 10th of September did not go too far before it begins to face...

Crypto News

Robinhood, a leading investment app, has rolled out its newest product — a crypto wallet that charges zero transaction fees to its users. For...