Ether Exchange Traded Fund Application Filed by Wisdom Tree at the SEC

Ether Exchange Traded Fund Application Filed by Wisdom Tree at the SEC

Crypto News Ethereum Exchanges News
May 27, 2021 by Elias Powell
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Ever since late 2020, the cryptocurrency industry has become the center of attention for the entire mainstream industry. Although the cryptocurrency industry was not well-accepted by the mainstream industry in the beginning, it has demonstrated its passion for the industry now. As the cryptocurrency industry has gained mainstream attention, firms are now trying to bring
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Ever since late 2020, the cryptocurrency industry has become the center of attention for the entire mainstream industry. Although the cryptocurrency industry was not well-accepted by the mainstream industry in the beginning, it has demonstrated its passion for the industry now.

As the cryptocurrency industry has gained mainstream attention, firms are now trying to bring more exposure to the industry with more innovation. Several companies from around the world have started introducing exchange-traded funds (ETFs) for major cryptocurrencies such as BTC and ETH.

With the help of ETFs, cryptocurrency and other firms are able to launch stocks for BTC and ETH through their platforms. The firms reportedly launch these exchange-traded funds (ETFs) through the prominent stock exchanges of their respective countries.

The country that is responsible for starting with the trend of exchange-traded funds (ETFs) is Canada. So far, the country has launched more than five exchange-traded funds (ETFs) through different companies.

After Canada, there were firms from South Korea, Japan, Hong Kong, and many more that followed in the footsteps of Canada. Over time, the trend has even found its way to the land of opportunities, the United States of America.

According to the latest reports, Wisdom Tree has recently filed an application at the Securities and Exchange Commission (SEC) for an ETF. The Securities and Exchange Commission has confirmed that the application for the exchange-traded fund (ETF) is for Ether (ETH).

The Securities and Exchange Commission (SEC) has confirmed that the application for the ETF was submitted on Thursday, May 27, 2021. Now that the application has been submitted, Wisdom Tree is hoping that the SEC will soon approve the request.

Once the application has been approved, Wisdom Tree aims to list the ETH ETF on the BZX Exchange that is part of the Chicago Board Options Exchange.

Prior to Wisdom Tree, another firm called, VanEck has submitted an application at the SEC for ETH ETF. VanEck had reportedly submitted the request at the Securities and Exchange Commission on May 7, 2021.

The reason why firms have started filing ETH ETFs is because of the confidence they have gained after SEC’s recent actions. Just recently, the Securities and Exchange Commission surprised the entire cryptocurrency and investment community. It did it by announcing that it was looking into reviewing the requests for the filings for BTC ETFs.

The reports confirm that the Exchange Traded Fund (ETF) applications for Bitcoin (BTC) were filed by SkyBridge and Fidelity. Despite many speculations that the SEC would reject the applications, the regulator ended up surprising the entire industry.

The sources have confirmed this is not the first time that Wisdom Tree has filed an application for BTC ETF at the SEC. Before ETH ETF, Wisdom Tree had filed numerous applications at the SEC for BTC ETF, only to have them rejected by the regulator.

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