According to Odaily, investment firm Roundhill has recently submitted an application to the U.S. Securities and Exchange Commission (SEC) for an Ethereum Covered Call Strategy ETF, coded as YETH. The effective date of this application is August 14, 2024.
Bloomberg ETF analyst Eric Balchunas stated that this is a new application related to spot Ethereum. The application by Roundhill indicates a growing interest in Ethereum and its potential as an investment. The Ethereum Covered Call Strategy ETF, if approved, could provide investors with a new way to gain exposure to the cryptocurrency market.
The submission of this application to the SEC is a significant step for Roundhill and for the broader cryptocurrency market. It demonstrates the increasing acceptance of digital currencies by traditional financial institutions. However, the SEC's decision on the application is yet to be made. The approval of the Ethereum Covered Call Strategy ETF could potentially pave the way for other similar products in the future.