The Commission on securities and exchange Commission (SEC) registered the first exchange-traded Fund (ETF) that focus solely on bitcoin as well as Ethereum. EtherIndex Ether Trust a registered firm EtherIndex LLC from Delaware and aims to give shareholders access to trading operations with Ether against the U.S. dollar. As stated in the prospectus, the Fund will issue and redeem the shares of one or more blocks (baskets) on an ongoing basis through the registered brokers or other authorized market participants. Distribution of baskets will be made in exchange for the corresponding amount of tokens Ether. The distribution of tokens of Ether will occur is equivalent to the value of the shares that are redeemed in favor of the authorized market participants in exchange for one or more baskets. Authorized participants will sell shares at prices determined by the cost of Ether in respect of each share and the market price at the time of sale. Amount of sold tokens, Ether will vary depending on the expenses and income of the Fund. Earlier this month, the SEC received a request from the company SolidX, which plans to launch a bitcoin ETF Bitcoin SolidX Trust. Also recently of its intention to start working with bitcoin exchange traded Fund has announced Winklevoss Bitcoin Trust brothers Winklevoss.
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8 years ago in #eth by allakuk (10)
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