- James Seifert has found a newly filed Ethereum ETF.
- Defiance has filed a 2x leveraged MicroStrategy ETF.
- Seifert believes the earliest Defiance's newly filed ETFs might be traded could be late June.
James Seifert, ETF analysis analyst at Bloomberg Intelligence, has found a newly filed Ethereum ETF. In a latest publish on X, Seifert identified that Defiance, the identical firm that just lately utilized for a 2x leveraged MicroStrategy ETF, additionally utilized for a 2x leveraged Ethereum ETF. Seyffart stated the ETF may commerce below the ticker ETHL.
A screenshot Seifert shared exhibits Defiance filed the applying on Monday, April 8, 2024. An excerpt from the applying reads as follows:
“The data contained herein just isn’t full and is topic to vary. The Firm could not promote these securities till the registration assertion filed with the Securities and Trade Fee (SEC) turns into efficient. You cannot.”
Defiance filed a request in search of a each day inverse funding results of -2 instances (-200%) the each day proportion change in MicroStrategy's widespread inventory, which is included as a part of its funding goal. It additionally famous that the corporate's merchandise are riskier than options that don’t use quick methods.
Moreover, Defiance emphasised that traders investing for durations longer or shorter than the buying and selling day mustn’t count on returns to be -200% of the underlying inventory's efficiency for that interval.
The subject of Ethereum ETFs got here to the forefront after the SEC authorised a number of Bitcoin ETFs final January. Unfolding occasions have revealed discrepancies between the Bitcoin ETF approval course of and Ethereum's approval course of, however many customers consider the latter may nonetheless come to fruition .
In the meantime, delays by the SEC have many customers questioning the probabilities of attaining approval for the Ethereum ETF by the fee's Might 23 deadline. Seifert stated the earliest the Defiance Leveraged Ethereum Futures ETF may start buying and selling is round late June.
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