VanEck’s Ethereum Strategy ETF on Track for CBOE Listing

VanEck, a global investment firm, has submitted a registration statement with the United States (U.S.) Securities and Exchange Commission (SEC) for its Ethereum Strategy ETF. If approved, the ETF could become the first Ethereum-based investment vehicle to be listed on the Chicago Board Options Exchange (CBOE).


The ETF will be designed to provide direct exposure to the price of Ethereum (ETH), as well as to derive return from other digital assets or derivatives that are based on or related to Ethereum.

VanEck’s Ethereum Strategy ETF would seek to provide investors with access to the overall yield and return performance of the Ethereum market, less the expenses incurred in running the ETF.

The registration statement submitted by VanEck notes that the ETF would use the Bloomberg Galaxy Ethereum Index (BGEI), an index designed to track the performance of the Ethereum market on an un-hedged basis, as its benchmark. The registration also notes that the BGEI is calculated from transaction data sourced from various Ethereum exchanges.

The filing by VanEck is the latest in a series of attempts by the firm to secure a listing for its cryptocurrency-related products on major exchanges. In December 2020, VanEck submitted a proposal to list a bitcoin-based ETF on the New York Stock Exchange (NYSE), but that bid has yet to be approved by the SEC.

If VanEck’s Ethereum-focused ETF is approved, it could open the door for the listing of other similar products on major exchanges. The SEC has made it clear, however, that it is open to approving bitcoin and other cryptocurrency-related ETFs, provided the rules and regulations are adhered to.

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