Following in VanEck’s footsteps earlier this month, Wisdom Tree applied for the over-the-air fund (ETH) with the US Securities and Exchange Commission.

According to materials from May 27, the ETF shares will be listed on the BZX Chicago Board Options Exchange.

On May 7, a rival ETF issuer, VanEck, also applied to trade the Ether ETF on the same exchange.

The Tree of Wisdom app came about when the Securities and Exchange Commission (SEC) began a formal review of Bitcoin (BTC) ETF filings provided by Fidelity and SkyBridge, respectively. The record is far from the first Wisdom Tree rodeo as the issuer has placed multiple orders for Bitcoin ETFs in recent years.

Although US investors have yet to gain access to the Ether ETF, three Ether funds were approved by Canada’s financial regulator on April 17.

The funds launched in a big way last month, with the Galaxy Digital Ether ETF ranking 11th in terms of trading volume on the Toronto Stock Exchange after its first trading day, and the Purpose Ether ETF ranking 20th.

Eric Balchunas, senior ETF analyst at Bloomberg, commented, “It would be crazy if they approve of such a thing in the United States.”

While there is no Ether ETF in the US, US institutions’ appetite for ETH appears to be growing as the flow of Ethereum investment products surpassed the number of BTC products earlier this month.

Grayscales Ethereum Trust has also recently rallied and is trading at a double-digit premium to the underlying asset’s spot price, while the company’s Bitcoin Trust has been trading at a discount since March.

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