"Though a spot Bitcoin ETF is possible in 2022, SEC approval may take longer due to concerns about regulation in the underlying bitcoin market."
Ether hit a new record above $4,600 on Wednesday, driven by enthusiasm over ether futures and the metaverse.
The market-cap weighted fund from Evolve ETFs currently has about 68% of its holdings in bitcoin and 32% in ether.
VanEck's fund will not invest directly in ether, but invest in ether futures contracts and other pooled invested vehicles that provide exposure to the coin.
Ethereum founder Vitalik Buterin will play a monocle-wearing spirit guide in 'Stoner Cats', a series that is crowdfunding using non-fungible tokens.
Brazil's third crypto ETF arrives as US regulators weigh the approval of the country's first bitcoin fund.
SkyBridge Capital CEO and crypto fan Anthony Scaramucci, said his investment firm would also file for an ethereum ETF as they branch out from bitcoin.
The momentum is likely being driven by the asset manager VanEck filing to list an ether exchange-traded fund.
The VanEck Ethereum Trust would list shares on the Cboe BZX Exchange if the SEC approves the application.
Evolve Funds filed a preliminary prospectus with the Canadian securities regulator for an Ether ETF. Canada approved Evolve's bitcoin ETF last month.