VanEck files updated spot Ethereum ETF bid

As a researcher with a background in the crypto and financial markets, I’m closely following the developments surrounding the anticipated approval of spot Ethereum Exchange Traded Funds (ETFs). The recent filing by VanEck for an amended prospectus is an important step in this process.

VanEck files amended prospectus ahead of expected approvals for spot Ethereum ETFs.

As a crypto investor, I’m excited to share that VanEck, the wealth management firm, has submitted an updated registration statement to the Securities and Exchange Commission (SEC) for its proposed Ethereum (ETH) exchange-traded fund (ETF). This ETF aims to track the spot price of Ethereum. VanEck sent this filing before the SEC’s deadline for all issuers to provide amended documents by Monday.

As a researcher studying the latest developments in the world of cryptocurrency exchange-traded funds (ETFs), I can tell you that on July 3, VanEck joined forces with Bitwise in submitting their S-1 filings to the Securities and Exchange Commission (SEC). Other companies are anticipated to follow suit and submit their amended packages by the end of the day. According to Bloomberg’s analysis, VanEck’s filing contained only minor adjustments, serving as a necessary formality to adhere to the established procedure.

As a researcher studying the upcoming Ethereum Spot Exchange-Traded Funds (ETFs) from these two firms, I have gathered that they have revealed substantial information about their offerings. Specifically, they have disclosed details regarding an initial fee waiver for investors.

As an analyst, I recently received the S-1 filing from VanEck. Since they have already paid their fees, there isn’t much new information to glean from this document. Essentially, they are returning the ball to the Securities and Exchange Commission (SEC) for further review. The remaining filings from other companies, except for Bitwise who submitted last week, are anticipated to arrive soon.

— Eric Balchunas (@EricBalchunas) July 8, 2024

Spot Ethereum ETFs likely to debut next week.

To initiate trading for Ether Exchange-Traded Funds (ETFs) at recognized stock markets, the SEC needs to approve the necessary rule adjustments outlined in 19b-4 forms and S-1 applications.

In May, the regulatory agency gave its approval to eight 19b-4 forms submitted by prospective Ethereum spot ETF applicants, among which were Bitwise and VanEck. This marked the completion of the initial stage of a two-part procedure, instilling faith that these Ethereum investment funds were about to become a reality.

As a crypto investor, I’m excitedly keeping an eye on the latest developments regarding the potential launch of a Spot Ethereum (ETH) Exchange-Traded Fund (ETF). According to my sources at CNBC, trading could commence as early as next week, providing us with a two-week window for this much-anticipated product’s debut. This timeline aligns with the optimistic outlook shared by SEC chair Gary Gensler during his Senate committee testimony, where he expressed confidence that Spot ETH ETFs would likely make their appearance this summer.

Following the debut of Bitcoin (BTC) exchange-traded funds (ETFs) in January, the cryptocurrency reached a new peak price and experienced a growth of approximately 33% so far this year, even amidst a recent downturn in the financial markets.

There’s growing buzz about Ethereum potentially following a similar price trend as we’ve seen before, with spot Ethereum exchange-traded funds (ETFs) supposedly on the horizon. On the one hand, some experts like Carlos Mercado from Flipside Crypto argue that an institutional wrapper could negatively impact Ethereum after Bitcoin. In simpler terms, they believe that having Ethereum in an ETF might not be beneficial for Ethereum’s decentralized finance (DeFi) ecosystem.

In contrast, Normán Wooding, CEO of SCRYPT, stated to that institutional interest will ultimately result in greater returns and trigger price increases for ETH in the future. Unfortunately, Ethereum suffered a loss of nearly 19% in value over the past month due to market-wide downturns.

VanEck files updated spot Ethereum ETF bid

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2024-07-08 21:24