Main page News, Ethereum

Kryptoin Investment Advisors has just filed with the US Securities and Exchange Commission (SEC) an application to launch an Ethereum ETF.

According to the filing, the Kryptoin Ethereum ETF Trust will provide clients with access to an instrument "reflective of the actual Ethereum market." The Ethereum ETF will be priced based on the Chicago Mercantile Exchange (CME) CF Ether-Dollar US Settlement Price.

If approved, the product will be listed on the Chicago Board Options Exchange. Gemini Trust Company, LLC will be the custodian of the fund.

Unlike other companies that have filed applications in recent weeks under the Investment Company Act of 1940, Kryptoin is focused on a document from the previous decade.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

"The Trust is not a mutual fund registered under the Investment Company Act of 1940 and is not subject to regulation under such Act. As a result, shareholders will not receive the regulatory protection afforded to investors in investment companies," the document says.

The company's Ethereum ETF will operate in the same way as the Bitcoin exchange-traded fund whose application was filed in 2019. In April 2021, Kryptoin updated the application. In June, the SEC extended the deadline for consideration.

The SEC director Gary Gensler has recently said the 1940 Act provides for more reliable measures to protect investors than the 1930 Act. He has indicated the regulator might approve funds that meet these requirements.

Read also:
Strawberry Cake Media Corp. © 2024 Cookie Policy Editorial team Archive

ihodl.com is an illustrated edition about cryptocurrencies and financial markets.
Every day we publish the best materials for everyone interested in economy.