Delaware-based Kryptoin Investment Advisors has joined a score of other crypto ETF hopefuls by filing for an Ethereum exchange-traded fund (ETF) with the Usa Securities and Exchange Committee (SEC).

The crypto investment firm previously tried and failed to get a Bitcoin ETF greenlit back in 2022. The house came back with another try this April, filing for a Bitcoin ETF that was fix for a verdict by July 27 just is still under review by the SEC.

According to a Thursday filing, the Kryptoin Ethereum ETF Trust plans to issue its common shares on the Chicago Board Options Exchange's (Cboe) BZX Exchange nether a ticker that will be announced before the start of trading.

The ETF will hold Ethereum (ETH) via custodian Gemini Trust Company, LLC and volition value its shares daily equally determined by the CF Ether-Dollar U.S. settlement price, which is an "independently calculated value based on an aggregation of executed trade flow of major ETH spot exchanges."

"The Trust's investment objective is to provide exposure to Ethereum at a cost that is reflective of the actual Ethereum marketplace where investors can purchase and sell Ethereum, less the expenses of the Trust's operations," the filing read.

The ETF will not buy or sell ETH direct. When it sells or redeems its shares, information technology volition exercise so in baskets of 100,000 shares at the Trust'due south internet asset value (NAV).

Kryptoin joins nugget manager VanEck and New York-based Wisdom Tree investments in filing for an ETF that offers ETH exposure in 2022. Co-ordinate to Bloomberg'south ETF Research Analyst, James Seyffart, at that place have been a total of 21 crypto ETF applications this year.

Related: VanEck takes a new approach with SEC, files for Bitcoin Strategy ETF

Eric Balchunas, senior ETF annotator at Bloomberg, noted on Twitter that equally Kryptoin filed for a spot Ether ETF under the 1933 securities act, it may exist a while before a verdict is delivered.

SEC Chairman Gary Gensler suggested earlier this month that he may be open to approving ETFs exposed to regulated futures contracts under the Investment Company Act of 1940.

"When combined with the other federal securities laws, the '40 Deed provides pregnant investor protections," he said.