Ethereum
Ethereum ETF approval could be imminent as VanEck ramps up efforts
Gamza Khanzadaev
Spotting the Ethereum ETF before July 4? Investment giant VanEck raises chances of imminent approval
Read U.TODAY on
Google News
VanEck just took a major step toward getting a spot approved Ethereum ETF, marking a potential breakthrough for the crypto industry. For example, it has just been reported that a major portfolio manager has filed Form 8-A, which is an important procedural step in the ETF approval process.
This action could also signal the imminent approval of an exchange-traded fund for the leading altcoin, as a similar action by VanEck in the past preceded the approval of the Bitcoin ETF in exactly seven days.
Form 8-A is an SEC filing used by a company to register a class of securities intended to be traded on a public exchange. When a company submits such a form, it signifies its intention to list and trade its securities on platforms such as the NYSE or Nasdaq.
Such a development could indicate that VanEck has obtained the green light to file an application with the regulator. Eric Balchunas, senior ETF expert at Bloomberg, writes that this action is a “good sign” and that the approval of spot Ethereum ETFs could occur in the seven days leading up to July 2.
The date just before Independence Day in the United States has already been set for the approval of the altcoin ETF. Balchunas and other industry experts including Nate Geraci, have speculated that the SEC could approve ETH ETFs very soon, before this holiday. VanEck’s new development seems to fit perfectly into such a scenario.
About the Author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master’s program in banking and asset management.
He wants to participate in covering economic and financial technology topics, as well as making more people aware of cryptocurrencies and blockchain.