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The thing will probably not be approved in Germany anyway, and probably not in the EU either.

As an ETF, it needs real shares in companies.
As an ETN, it would be a bond.
As an ETC, ETH would have to be a commodity.
At most, it would be possible as an ETP to track performance.
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@Staatsmann Not only presumably. Throughout the EU, a fund / ETF may not consist of a single instrument.
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@Staatsmann Correct. That is why there are already corresponding ETPs