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