Third Ethereum ETF filed despite no budge from the SEC on any crypto proposals.
Ethereum ETF Possible?
Kryptoin Investment Advisors look to capitalize on the growth of Ethereum by filing for a cryptocurrency exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC).
The move to Ethereum, according to the registration statement from August 12, is to bring exposure to actual Ethereum market prices for investors. Despite the bearish remarks from the SEC and recent doubts from figures around crypto of any budge from the SEC anytime soon, Kryptoin took the leap and filed.
“The Trust provides investors with the opportunity to access the market for ETH through a traditional brokerage account without the potential barriers to entry or risks involved with holding ETH directly, acquiring it from an online exchange platform, or mining it,” the statement’s summary said.
Cryptocurrency’s second most dominant blockchain is gaining more mainstream recognition from institutional investors. Kryptoin already has a proposal pending with the SEC for a Bitcoin ETF.
Wheres the Bitcoin ETF?
Kryptoin wrote that their Ethereum ETF will act similar to their Bitcoin ETF proposal, submitted to the SEC in 2019. The filing for Ethereum by Kryptoin was the third filed to the SEC behind VanEck and WisdomTree.
There has also been a flood of Bitcoin-related ETFs as well. Numerous Bitcoin ETFs have been adopted outside of the United States, including Canada and Brasil.
Notably, famed talking head of finance, Kevin O’Leary, told Blockworks in an interview on August 12 that he does not foresee a Bitcoin ETF until at least 2023. Regulators, too, remain bearish.
The SEC has yet to approve any cryptocurrency ETFs despite more and more proposals submissions from investor groups in the United States.
Source : bsc.news
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