For a long time, many experts have stated that the entry of institutional investors into the crypto market is going to be a major boost to the whole space and that is all set to happen with Ethereum.
In recent times, Ethereum, the world’s biggest cryptocurrency by market cap, has emerged as a major gainer and has hit new historic highs as well. In fact, it hit the $3000 a token mark for the first time in its lifetime.
Hence, there is now considerable interest in Ethereum, and this past Friday, it emerged that VanEck submitted an application to the Securities and Exchange Commission for an Ethereum Exchange Traded Fund (ETF). In this regard, it is also necessary to add that previously VanEck had also applied for a Bitcoin ETF and at this point it is under review. If the application is successful, it is going to be the first Ethereum ETF in the United States capital markets.