After VanEck: WisdomTree Files for an Ethereum ETF in the US

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Less than a month after VanEck filed documents with the SEC to launch an Ethereum ETF, WisdomTree has done the same. The asset manager, based in New York, has previously applied for Bitcoin ETFs but to no avail so far.

  • Founded in 2006, WisdomTree is an American exchange-traded fund and exchange-traded product sponsor and asset manager with over $42 billion in AUM (as of 2018).
  • According to a recent filing with the US Securities and Exchange Commission, the organization plans to release an ETF following the performance of the second-largest cryptocurrency by market cap – ether.
  • Should the application be approved, the ETF’s shares would be listed on the BZX Exchange, operated by the Chicago Board Options Exchange.
  • WisdomTree Digital Commodity Services will be the sponsor of the Trust. The document reads the Trust’s investment objective is to “gain exposure to the price of ether, less expenses and liabilities of the Trust’s operations.”
  • To do so, the Trust will “hold ether and will value its shares daily based on the [CF Ether-Dollar US Settlement Price], which is an independently calculated value based on an aggregation of executed trade flow of major ether spot exchanges.”

  • WisdomTree’s filing comes less than a month after VanEck did the same. As reported early in May, the global investment manager’s attempt came amid Ethereum’s significant dollar appreciation in 2021.
  • Additionally, WisdomTree has filed for a Bitcoin ETF previously and launched an Ethereum ETP in Europe earlier this year.
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