Circle Internet Financial, the company behind the USDC stablecoin, has formally filed to launch a spot Ethereum exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). The filing for the "Circle Ethereum Trust" was submitted on June 4, 2026, according to an official SEC database entry.
If approved, the ETF would hold Ether (ETH) directly, allowing investors to gain exposure to the cryptocurrency through traditional brokerage accounts. The filing designates Coinbase Custody as the custodian for the fund's assets.
Circle's filing follows the SEC's approval in May of similar spot Ether ETFs proposed by firms including BlackRock, Fidelity, and Grayscale. Those products are currently awaiting final registration approvals before they can begin trading.
Circle is best known as the issuer of USD Coin (USDC), the second-largest stablecoin by market capitalization. A stablecoin is a cryptocurrency designed to maintain a stable value, typically pegged to a fiat currency like the US dollar.
The company's move into the ETF space was hinted at in May when Circle CEO Jeremy Allaire mentioned the firm was considering such products during an earnings call.
Why This Matters
Circle's application expands the field of traditional financial firms seeking to offer regulated crypto investment products directly to the public. A successful launch would provide another major, regulated on-ramp for institutional and retail investment into Ethereum. It also signals ongoing confidence from a key crypto-native infrastructure company in the regulatory path for digital assets in the United States.
