Note from the Publisher: This appears to be another step in fully legitimizing cryptocurrencies and ETFs, and certainly will make it easier for the public to participate in this new paradigm. Since there are a couple of Bitcoin investment trusts already traded on exchanges, there will probably be a shakeout in this sector led by lack of volume/trading in some of these new trading vehicles.
"In yet another sign that companies are eager to turn digital currencies into proper investment vehicles, a newly formed company called EtherIndex LLC filed last Friday with the Securities and Exchange Commission to launch an exchange-traded fund based on ether, the cryptocurrency that powers the Ethereum network.
The move comes on the heels of the SEC opening a proposal for a Bitcoin ETF by Cameron and Tyler Winklevoss of Gemini for public comment, and a filing last Tuesday by SolidX to launch a Bitcoin ETF."
Read Full Article at Forbes.com