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Ether Trading Fund Registers with a SEC – CCN: Financial Bitcoin …

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EtherIndex LLC, a Wilmington, Del.-based corporation, has purebred a trust called a EtherIndex Ether Trust with a Securities and Exchange Commission (SEC), imprinting a initial ether-based trading fund.

The trust’s purpose is to give shareholders bearing to a daily change in a U.S. dollar cost of ether, reduction losses and liabilities, according to a prospectus. Ether is a digital commodity formed on a value token of a Ethereum mechanism network blockchain.

The trust is not actively managed.

The trust outlines a many new in a fibre of digital banking formed trade funds. Last week, SolidX Partners Inc. purebred a SolildX Bitcoin Trust,  CCN reported, while a Winkelvoss Bitcoin Trust, which filed with a SEC in 2014, filed to switch its listing from Nasdaq to BATS Global Markets.

The EtherIndex Ether Trust will emanate and redeem shares in one or some-more whole blocks (known as baskets) to and from purebred broker-dealers or other certified bonds marketplace participants on an ongoing basis. The trust will discharge baskets in sell for an suitable volume of ether.

On redemption, a trust will discharge sky equal

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