VanEck applies to SEC for Ethereum-based ETF

Investment company VanEck has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch an Ethereum-based exchange-traded fund (ETF).

If the ETF launches, investors will gain access to the second-largest cryptocurrency via traditional exchanges. According to the document, VanEck Ethereum Trust shares will trade on Cboe BZX.

On May 6, the price of Ethereum reached a new all-time high above $3,600.

In April, Canadian regulators approved the launch of the world’s first Ethereum ETFs from Purpose Investments, CI Global Asset Management and Evolve Funds. On April 21, the listing of the financial instruments on the Toronto Stock Exchange occurred.

On April 24, 3iQ Corp and CoinShares launched another Ethereum ETF in Canada.

On April 28, the SEC delayed consideration of VanEck’s bid to launch a Bitcoin-based ETF until June 17.

If approved, VanEck would launch the first Bitcoin ETF in the United States. The SEC is also reviewing applications from WisdomTree and Kryptoin.

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