As a researcher with a background in financial markets and experience following the evolution of digital assets, I find Vanguard’s stance on not offering spot Ethereum ETFs unsurprising but disappointing. The company has consistently maintained a cautious approach towards cryptocurrencies, emphasizing their volatility and lack of maturity as asset classes.
Vanguard Group, a prominent investment advisor in the United States, has made it clear that they consider cryptocurrencies an immature asset class, choosing not to follow their industry peers in launching a Bitcoin or Ethereum exchange-traded fund (ETF).
Vanguard Won’t Offer Spot Ethereum ETFs
“I, as a representative of Vanguard Group, can confirm that we are consistently assessing our brokerage offerings and considering new products. However, at present, Ethereum spot ETFs will not be offered on our platform.”
As an analyst, I’d rephrase it as follows: Last week, the SEC gave its approval to the 19b-4 filings from the issuers regarding their proposed spot Ether Exchange-Traded Funds (ETFs). However, before these ETFs can become available for trading, the securities regulator must still clear the S-1 registration statements from the fund issuers. On May 29, BlackRock resubmitted its S-1 application for review.
As a crypto investor, I’m keeping a close eye on the upcoming decisions of the US Securities and Exchange Commission (SEC). The approval process for various applications is currently underway, with many industry insiders anticipating an update by the 4th of July. It’s important to remember that this timeline could shift, given the SEC’s meticulous review process. I remain optimistic about the potential developments in the digital asset sector and will stay informed on any updates from Vanguard or the SEC.
As a crypto investor, I recognize that digital currencies don’t fit neatly into my investment strategy centered around traditional assets like equities, bonds, and cash. In my perspective, these foundational asset classes form the backbone of a prudent, long-term investment plan.
On the other hand, Vanguard’s rival BlackRock has emerged as the provider of the largest Bitcoin fund with its IBIT Bitcoin ETF. Earlier this month, ex-BlackRock executive Salim Ramji, who was instrumental behind the IBIT ETF joined Vanguard as the CEO. However, he added that he would stay consistent with Vanguad’s products and services offerings.
Spot Ether ETF An Election Issue
Cathie Wood, the CEO of ARK Invest, has made it clear that the Ethereum spot ETF’s approval is turning into a major political topic. At first, some financial experts predicted that the Securities and Exchange Commission (SEC) would not grant approval for this ETF. Wood further expressed her belief that an ETF centered around Solana might secure approval, but those based on memecoins are highly unlikely to receive regulatory backing.
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2024-05-30 07:19