Ether ETFs pending - Grayscale, VanEck and others file SEC applications
Six major asset managers including Grayscale and VanEck have filed fresh applications in a bid to launch Ethereum Futures (ETH) exchange traded funds (ETF) to United States customers.
Separate filings submitted to the U.S. Securities and Exchange Commission (SEC) reviewed by Cointelegraph outline respective applications from the likes of Grayscale, VanEck, BitWise, Volatility Shares, ProShares and Round Hill Capital.
We officially have 5 different #Ethereum futures ETF filings submitted to the SEC. Would love to know what has changed since May, other than the fact that someone (Volatility Shares) applied on Friday. ProShares went straight for the inverse/short ETF. https://t.co/Qi8he0OwrU pic.twitter.com/qVVUwrUjOI
Grayscale’s filing includes two applications, a proposed Grayscale Global Bitcoin Composite ETF as well as a Grayscale Ethereum Futures ETF. Grayscale’s Ether ETF will invest in futures contracts that are set to be traded on the Chicago Mercantile Exchange.
The SEC filing notes that Grayscale’s fund will primarily invest ‘front-month’ Ether futures which are contracts with “the shortest time to maturity”. Grayscale added that it intends to “roll” Ether Futures contracts before they expire.
Volatility Shares also outlined plans to list an Ethereum Futures ETF, investing its assets in cash-settled contracts referencing ETH trading on the Chicago Mercantile Exchange. Its noted that the fund will not invest directly in Ether.
Volatility’s filing also notes that it intends to enter into cash-settled Ether Futures Contracts as the buyer. Cash-settled futures markets typically see a counterparty pay cash to the buyer if the price of a futures contract goes up, while the buyer would pay the counterparty if the price of the
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