VanEck Files for Ethereum

VanEck Associates Corp. seeks approval from the U.S. Securities and Exchange Commission (SEC) to establish an exchange-traded fund called "VanEck Ethereum Trust." If VanEck's proposal is approved, the VanEck Ethereum Trust will allow retail and institutional traders to gain exposure to the world's second-largest cryptocurrency by market cap without requiring them to invest in it directly. It could also value its shares daily based on the MVIS CryptoCompare Ethereum benchmark rate. This would be the first U.S.'s ether ETF, but…