VanEck's $80 billion Ether ETFs now available on the SEC

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VanEck's $80 billion Ether ETFs now available on the SEC

In 1955, VanEck, which manages $80.8 billion as of August, announced a futures ETF for ETH, the world's second most valuable cryptocurrency.

The stock is trading at $1.660, up nearly 4% on the news.

The ETF will hold Ether futures contracts - rather than the asset itself - and will trade on the Chicago Board Options Exchange, which is the largest exchange for futures and options in the U.S. VanEck already offers a Bitcoin futures ETF.

The SEC, which has been aggressive towards crypto companies this year, also regulates ETFs, leading to suggestions that the agency's stance towards digital assets may be softening.

The development isn't forcément bullish, however, - VanEck's Bitcoin futures ETF launched in November 2021, just days before crypto markets topped.

A slew of companies have filed applications for spot Bitcoin ETFs from the SEC, which would allow retail investors to easily access exposure to the digital asset. In May, coinbase launched an exchange designed to cater to international users.