Cryptocurrency News

Kryptoin Investment Advisors Files For Ethereum ETF.

Renowned Kryptoin Investment Advisors has filed a proposal with the United States SEC [Securities and Exchange Commission] earlier on Thursday for an Ethereum [ETH], ETF [Exchange-traded Fund].

The Delaware-based firm outlined in its proposal that the Kryptoin Ethereum ETF Trust’s “investment objective” would be “to offer exposure to Ethereum at a price that’s reflective of the particular Ethereum market where investors can buy and sell Ethereum.”

Kryptoin outlined the trust “will not buy or sell ether directly, although the Trustee may sell ether to pay certain expenses. Instead, when it sells or redeems its shares, it’ll do so in ‘in-kind’ transactions in blocks of 100k shares.”

The SEC has been reviewing Kryptoin’s application for a Bitcoin [BTC], ETF. The firm primarily submitted a bitcoin ETF proposal earlier in October 2019.

The agency is weighing several cryptocurrency applications, but none has met muster the United States.

VanEck filed for a similar ETH vehicle earlier in May.

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