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Cryptoassets & Blockchain Legal News

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Ethereum ETF Proposal considered by the SEC

April 25, 2017 by Beatrice OZANNE

The SEC has quietly begun the process of weighing whether to approve an exchange-traded fund (ETF) for the cryptocurrency ether (ETH).

Aiming to launch an EtherIndex Ether Trust on the NYSE Arca exchange the EFT backers first filed in July 2016. This was followed by the NYSE Arca December request for a proposed rule change allowing for the ETF listing. A recent notice from the SEC unveiled that it is in fact considering the proposal, though no decision has been made yet.

Recently the agency refused to clear the way for two bitcoin ETFs due to concerns over market surveillance and insufficient regulation.

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