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Altcoin News

VanEck Applies for Admission to an Ethereum ETF

According to a Form S-1 filed with the U.S. Securities and Exchange Commission (SEC), asset manager VanEck Digital Assets has filed an application for an Ethereum exchange traded fund (ETF). It is called VanEck Ethereum Trust and would be traded on the Cboe BZX exchange if it is admitted.

The investment product would track the MVSI CryptoCompare Ethereum Benchmark price and physical ETH holding. VanEck appointed the Delaware Trust Company as custodian.

According to the document, the custodian will hold the physical ETH. If the cryptocurrency falls, VanEck will take back or sell more shares. A sale of ETH was excluded. The document states:

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