VanEck Officially Files S-1 for Spot Ethereum ETF

$89.5 billion asset management firm VanEck has officially filed an S-1 for its Spot Ethereum ETF. The company filed the application with the U.S. Securities and Exchange Commission (SEC) on Monday, in what is a crucial part of the ongoing approval process for the ETH ETF.

Bloomberg Analyst Erich Balchunas It has been noted that this action is expected to be followed by several similar filings from issuers today. The only exception is Bitwise, which had filed its S-1 last week. This development has led many experts to predict that the Ethereum investment product will go live within the next two weeks.

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VanEck Files S-1 for Ether ETF

The cryptocurrency market is heading towards a monumental moment as Ethereum ETFs are about to arrive. Approved earlier this year, the ETH investment offering will be the second cryptocurrency-based ETF in the United States. Now, a critical development could allow the product to be approved sooner than expected.

Asset manager VanEck has filed a Form S-1 with the SEC for its Spot Ethereum ETF. According to Bloomberg’s Balchunas, the filing puts “the ball back in the SEC’s court.” The product was originally scheduled to launch on July 4, but has now been extended to this week.

Read also : Ethereum ETF Approval: A Milestone in the Cryptocurrency Journey

Nate Garaci, co-founder of the ETF Institute went to X (formerly Twitter) He predicted an imminent arrival. Specifically, he predicted that “issuers are preparing to launch in the next week or two.” Moreover, this development could open the door to even more crypto ETFs in the coming year.

VanEck has already waived its upfront fee for the Ethereum ETF. The company also announced that it would charge 0.2% if it managed to surpass $1.5 billion in total assets. Conversely, earlier this month, the company predicted that ETH could reach $22,000 by 2030.

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