21Shares Files Form 8A For Spot Ethereum ETF After VanEck

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As a seasoned crypto investor with a keen interest in Ethereum and ETFs, I’m excited about the recent developments in the Ethereum ETF space. The 21Shares filing of Form 8-A for its Spot Ethereum ETF is a significant step forward. This move puts them in the same league as other major players like VanEck and reinforces their commitment to bringing an Ethereum ETF to market.

As a researcher studying the latest developments in the world of exchange-traded funds (ETFs), I can report that 21Shares has taken a significant step forward in its plans to launch a Spot Ethereum ETF. The company has submitted Form 8-A to the U.S. Securities and Exchange Commission (SEC), following in the footsteps of VanEck, who made a similar filing earlier this week. Furthermore, industry heavyweights like BlackRock, Fidelity, and Franklin Templeton are also rumored to be preparing their own Ether ETF applications.

21Shares Submits Form 8A For Spot Ethereum ETF

As a researcher, I can’t stress enough the importance of securing approval for Form 8A. This vital step enables an issuer to list and trade their product on a stock exchange. By submitting this application on June 27, 21Shares has fortified its position in the race among Spot Ethereum ETF applicants.

Previously this month, ARK Invest revealed they wouldn’t proceed with their Ethereum Spot ETF proposal for the moment. Nevertheless, ARK continues to explore methods to grant investors exposure to Ethereum’s underlying tech.

Moving forward, the company remains committed to its strategic emphasis on active management across multiple investment offerings. Such products encompass disruptive innovation equity ETFs, digital asset futures ETFs, and the ARK Venture Fund. Simultaneously, other contenders for the Spot Ethereum ETF were modifying their S-1 filings. Following ARK Invest’s choice to abandon its application and terminate its collaboration with 21Shares, the latter opted to advance independently with its Spot Ethereum ETF submission.

VanEck, similar to other market participants, recently submitted a Form 8-A. Furthermore, VanEck has disclosed in a different filing their intention to forgo all fees until the management assets of their Ethereum ETF hit either $1.5 billion or 2025, whichever occurs first.

When Will Ether ETFs Start Trading?

As an analyst, I’m observing that there is growing anticipation among industry experts for a potential launch of Ethereum ETFs around the second week of July. Meanwhile, competitors like VanEck are ramping up their efforts in this space. Notably, the Securities and Exchange Commission (SEC) has recently asked applicants to make revisions to their S-1 filings, resulting in a total of eight registrations being submitted.

As a researcher studying the latest developments in the world of exchange-traded funds (ETFs), I’ve come across filings from several prominent financial institutions, including BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Invesco. Furthermore, SEC Chairman Gary Gensler has reassured us that the application process for a spot Ethereum ETF is moving forward without any major hiccups.

Nate Geraci, President of ETFstore, recently revealed a screenshot showing that the latest modifications to the S-1 filings were insignificant. This hints that the SEC could be on the verge of announcing the start date for trading. Consequently, those seeking approval for Spot Ethereum ETFs might not need to make major revisions to their applications if this information holds true.

The SEC may merely add a few more remarks, if at all. Ultimately, it’s up to the SEC to make the final decision. As reported by Geraci’s source, an approval is anticipated within the coming two to three weeks. This implies that the regulatory procedure is nearing its end.

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2024-06-28 10:52