VanEck Files For Ethereum ETF As ETH's Price Staggers : vima

According to a Form S-1 filed with the U.S. Securities and Exchange Commission (SEC), asset manager VanEck Digital Assets has filed for an Ethereum Exchange Traded Fund (ETF). Called VanEck Ethereum Trust, it would trade on the exchange Cboe BZX, if approved.
The investment product would track the MVSI CryptoCompare Ethereum Benchmark Rate and would hold physical ETH. As Custodian, VanEck has appointed the Delaware Trust Company.
Per the document, the custodian will hold the physical ETH. If the cryptocurrency trade downwards, VanEck will redeem or sell more shares. Selling the ETH has been ruled out. According to the document:

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