Roughly three weeks after the first application for an ETH ETF (exchange-traded fund) by asset manager VanEck, WisdomTree becomes the second firm to submit a similar application with the Securities and Exchange Commission (SEC).
The ETF specialist firm headquartered in New York City already filed for a Bitcoin ETF a couple of months ago, waiting for a decision by the SEC yet to come.
Approval would turn Ethereum into a highly accessible asset for U.S. retail traders, who could invest into the ETF without taking ownership of the blockchain’s native token ether.
Although there is no information regarding a ticker symbol published by now, the Trust would list on Cboe BZX Exchange.
Unlike the US, Canada, for example, already listed several Bitcoin and Ether ETFs responding to the fast-growing public interest and demand for cryptocurrency exchange-traded funds.
Approval in the U.S. could give Bitcoin and Ethereum a massive boost as the U.S. retail market is the biggest in the world.