The SEC MAY Just Approve A New Ethereum ETF!

Those who are bullish on ETH will appreciate this.

WisdomTree, a financial services company has filed a motion with The SEC granting it the right to roll out a NEW Ethereum ETF, according to sources.

If the firm gets its way this will make its proposal for an Ethereum ETF the second request of its kind within The United States.

At the time of this writing ETH is trading well below its most recent high due to the recent market crash, but perhaps we may see a price increase due to increased adoption, more asset offerings, and more institutional involvement.

Check out the latest on this new financial instrument:

Wisdomtree files Ethereum ETF. pic.twitter.com/74QNBupS9n

— Documenting Ethereum 🧾 (@DocumentEther) May 27, 2021

Asset manager @WisdomTreeETFs has filed for an #Ethereum ETF with the SEC, becoming only the second to do so.https://t.co/1daT09vIAY

— BeInCrypto (@beincrypto) May 28, 2021

Decrypt had the details on the newly proposed financial instrument:

WisdomTree, an asset manager with a focus on investment products, has filed for an Ethereum ETF.

ETFs, or exchange-traded funds, track the performance of an underlying asset or group of assets. They’re a good option for traders who don’t want to deal with the risks of actually holding the underlying investment, and would rather just treat it like a regular stock.

Companies like WisdomTree see crypto as a good use case, since blockchain tech is notoriously difficult to navigate: wallets can be confusing, transaction fees are expensive, and tax obligations are unclear. An Ethereum ETF would make things easier for investors who aren’t quite ready to hold ETH but want to get in on the market.

WisdomTree Files Ethereum ETF Application – https://t.co/lurUdyO93y

The crypto market doesn’t look too great today regarding the digital assets’ prices, but there are all kinds of other bullish moves taking place in th…

— PumpMoonshot (@PumpMoonshot) May 28, 2021

#RenVM launches bridge to #PolygonNetwork. Nebraska Banks to custody #crypto. WisdomTree Files #Ethereum ETF. #PolygonMatic #btc #Bitcoin #buythedips #buythedip #cryptocurrency #CryptoNews #altcoins #ALTSEASON #HODL #HODLandEarn #HODLer https://t.co/e5UfOktMaY

— Cryptocurrency Blockchain News (@cbnewswire) May 28, 2021

Coindesk reports:

The ETF specialist firm, which already has a bitcoin ETF before the U.S. regulator, becomes the second U.S. fund shop to also vie for an ether product, after VanEck. Approval would see Ethereum investments become readily available to U.S. retail traders, who could buy into the ETF without taking ownership of that blockchain’s native token, ether.

The SEC has not yet approved a single bitcoin ETF, let alone an ETH equivalent, making WisdomTree’s new filing a test case in the latest wave of applicants.

Canadian regulators have moved much more swiftly on both fronts. There, investors can choose between multiple bitcoin and ether ETFs.

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