WisdomTree Files To Withdraw Ethereum Trust Registration Statement – Details

As a seasoned crypto investor with over a decade of experience navigating the volatile and ever-changing landscape of digital assets, I must admit that the recent developments surrounding Ethereum ETFs have left me slightly perplexed. The decision by WisdomTree to withdraw their registration statement for their Ethereum Trust seems to suggest a lack of confidence in the market’s readiness for such a product.


Three years following its initial submission, American investment firm WisdomTree has asked for the withdrawal of its registration statement related to their Ethereum Trust with the U.S. Securities and Exchange Commission (SEC). This move follows closely on the heels of asset manager VanEck’s decision to shut down their Ethereum futures ETF, citing insufficient demand as the reason for closure.

WisdomTree To Terminate Ethereum ETF Registration 

On September 6th, WisdomTree requested the SEC to withdraw a registration form for their Ethereum exchange-traded fund, named “WisdomTree Ethereum Trust”. Initially filed on May 27, 2021, this form aimed to create an ETF that provided investors with exposure to Ethereum at lower costs and reduced liabilities.

A statement from the application read:

To meet its financial goal, the Trust plans to own ether. The value of each share will be determined daily according to the [CF Ether-Dollar US Settlement Price], a figure derived from the combined transactions of significant ether trading platforms, which is computed independently.

The “WisdomTree Ethereum Trust” was intended for trading on the Chicago Board Options Exchange (Cboe), with a maximum total offering price proposed at $1,000,000.

Three years after its initial submission, WisdomTree is now seeking to cancel the registration of this ETF, along with all related documents. The asset manager clarifies that no shares connected to this application have been or will be offered to investors. Furthermore, WisdomTree has admitted that the filing fees for this registration, totaling $109.10, are non-refundable. They also ask for these fees to be applied towards future filings instead.

Just recently, WisdomTree announced its plans, following VanEck’s decision to close down the VanEck Ethereum Strategy ETF (EFUT). This ETF, which is based on Ethereum futures contracts, was closed due to a thorough evaluation of various aspects such as performance, liquidity, assets under management, and investor interest. Trading for EFUT will cease on September 16, with shares liquidation scheduled around September 23.

ETH Spot ETF Market Sees $6 Million In Loss

Recently, it’s been reported that the Ethereum ETF market experienced an outflow of approximately $6 million over the past day, as indicated by data from Farside Investors. Despite managing over 2% of the entire Ethereum market, the overall net inflow of this emerging market now amounts to a negative $568.5 million. At the same time, data from CoinMarketCap indicates that Ethereum is currently valued at $2,237 after a 6.64% decrease within the past day.

WisdomTree Files To Withdraw Ethereum Trust Registration Statement – Details

Read More

2024-09-07 23:11