VanEck Files S-1 Amendment for Spot Ethereum ETF

Investment management firm VanEck has filed its amended Ethereum ETF S-1 spot with the Securities and Exchange Commission (SEC). This comes after the Commission returned forms to issuers requesting minor changes. As the race for a potential summer listing approaches, issuers are putting the finishing touches on these investment vehicles.

VanEck modifies Ethereum S-1 ETF

VanEck has filed its modified S-1 with the financial regulator with experts indicating a near-final approval date. The SEC approved 19b-4 filings from eight potential issuers in May, but delayed the final S-1 filing with Gary Gensler indicating a date for this summer.

As investors plan to trade spot Ethereum ETFs in the US, companies are poised to release updates to their fee structure. VanEck is targeting trading under the ticker “ETHV” as users expect low fees. This development has sparked a frenzy across social media spaces as bulls eye a future shift in market sentiment.

Last week, Bit by bit filed its S-1 amendment with a 6-month waiver of up to $500 million, with additional issuers expected to file today. Nate Geraci, President of ETF Store, noted that with the amendments, institutions are gearing up for a potential launch in a week or two.

Similarly, Bloomberg analyst Eric Balchunas, who had previously expressed a short-term approval timeframe for these products, added that the ball is now in the regulator’s court.

“The first S-1 just came in today from VanEck… they already got their share, so there’s nothing to see here, they’re just throwing the ball back in the SEC’s court. I expect the rest today, except Bitwise who did theirs last week.”

Users expect approvals

Ethereum users are eager to see ETF listings in an attempt to attract massive institutional inflows into the asset. Drawing lines with approval from Bitcoin ETFsETH holders expect price gains to erase previous losses. Ethereum is trading at $2,983, down 20% since 19b-4 application approval.

Read also: UBS raises NVIDIA price target to $150, how AI coins will react

David Pokima

David is a financial news contributor with 4 years of experience in Blockchain and cryptocurrency. He is interested in learning about emerging technologies and has an eye for breaking news. Keeping up to date with trends, David has written in several niches including regulation, partnerships, cryptocurrency, stocks, NFTs, etc. Away from the financial markets, David enjoys cycling and horseback riding.

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