As a seasoned crypto investor with years of navigating the volatile and ever-evolving digital asset landscape, I must say these recent developments from WisdomTree and VanEck have piqued my interest and raised some concerns.
The investment company, WisdomTree, announced that they will no longer pursue their request for a market-based Ethereum exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC).
Initially, the application was made back in May 2021, but it was later withdrawn on September 6, 2023.
According to their SEC report, WisdomTree stated that no new securities were distributed through a public offering.
The company admitted they wouldn’t get a refund on the fees they paid to the SEC, yet inquired if those same fees could potentially be applied towards upcoming filing costs instead.
Initially, the plan was for the ETF to be available for trading on the Chicago Board Options Exchange’s BZX Exchange. Upon its initial application, WisdomTree held optimistic views about the potential expansion of the Ether market, likening it to the early phases of Bitcoin‘s growth.
Additionally on that day, VanEck, another financial institution, declared they would be shutting down their Ether ETF that operates with futures. The firm cited the product’s minimal demand, underperformance, and limited investor appeal as reasons for its closure.
The VanEck Ethereum Trading Strategy ETF will cease transactions on September 16. Investors can expect their fund assets back by approximately September 23.
Read More
- How Angel Studios Is Spreading the Gospel of “Faith-Friendly” Cinema
- Hero Tale best builds – One for melee, one for ranged characters
- Gold Rate Forecast
- Comparing the Switch 2’s Battery Life to Other Handheld Consoles
- Castle Duels tier list – Best Legendary and Epic cards
- EUR CNY PREDICTION
- Mini Heroes Magic Throne tier list
- 9 Most Underrated Jeff Goldblum Movies
- USD CNY PREDICTION
- EUR NZD PREDICTION
2024-09-08 12:38