On Friday, New York-based asset manager VanEck filed for the potential listing of an Ethereum based exchange-traded fund (ETF) with the SEC. Meanwhile the company also awaits the SEC’s evaluation of a bitcoin based ETF, proposed in the end of 2020.
If approved, it would be the first ether ETF in the United States and would allow investors to gain exposure without directly having to buy the cryptocurrency. This could potentially be a key driver for the further adoption of the trending asset class.
The ETF would moreover be regulated, consisting of the listing of shares of the VanEck Ethereum Trust via the Cboe BZX exchange, that is also intended to be used for the bitcoin ETF. The VanEck Ethereum Trust holds the underlying ether that is regularly valued against the MVIS CryptoCompare Ethereum Benchmark Rate.
As regulators have pushed the decision regarding the bitcoin ETF out to at least July 17th, it is doubtful that they will be quicker to make a choice on the ethereum ETF listing.
What do you think, could crypto-based ETFs change the current investing landscape or is it just a means for asset managers to satisfy increasing customer demands?