As a seasoned crypto investor with a keen interest in ETFs, I’m keeping a close eye on the latest developments regarding the potential approval of a spot Ethereum ETF. The recent filing of VanEck’s Form 8-A is an encouraging sign, as it indicates that the registration process is progressing.
As a researcher, I’ve noticed that VanEck has recently filed an 8-A form in preparation for the potential approval of their Ethereum spot ETF products. According to Eric Balchunas, Senior ETF Analyst at Bloomberg, this particular filing is an essential step towards the launch of any exchange-traded fund (ETF) product.
The Race for Spot Ethereum ETF Draws Closer
After the Securities and Exchange Commission (SEC) granted approval for eight Ethereum ETFs in May, there have been numerous discussions surrounding the potential S-1 filings. Due to the frenzy leading up to the last-minute approval, the required scrutiny from the SEC towards the applicants has taken longer than expected. This thorough examination, which typically occurs before an application is approved, was not completed prior to the approval itself.
As a crypto investor, I’ve noticed that the anticipation surrounding the Ethereum ETF debut is different from what we experienced with Bitcoin. The market is currently in the dark about when exactly Ethereum ETF trading will begin. However, it’s important to note that form 8-A filings indicate that registration processes are underway. These filings signify progress towards potential approval for a spot Ethereum ETF, bringing us closer to the day we can trade Ethereum through an exchange.
According to Balchunas’ analysis, VanEck submitted its Form 8-A filing for its Bitcoin ETF approximately a week prior to its product’s debut in early January. Despite limited direction from the SEC, he remains confident in projecting a July 2 launch date.
VanEck recently submitted an 8-A form for Ethereum spot ETF, marking a step forward in the application process. Notably, they had filed for a Bitcoin spot ETF 7 days prior to its launch. This proximity between filings could be a positive indication for the July 2nd decision on their Ethereum over/under (7 days from now). However, keep in mind that anything is possible and we’ll likely receive more updates soon.
— Eric Balchunas (@EricBalchunas) June 25, 2024
This is a developing story, please check back for updates!
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2024-06-25 17:04