- VanEck has updated its application for its spot Ethereum-ETF.
- Previously, Franklin Templeton, BlackRock, Fidelity and others filed documents to register the investment product.
- The SEC postponed its review of the filings until March 5, 2024.
VanEck has filed an updated application for its spot Ethereum-ETF on Form S-1A with the SEC.
Just had @vaneck_us submit an updated S-1A for their spot #Ethereum ETF filing. pic.twitter.com/eHn3iCYuQu
- James Seyffart (@JSeyff) February 16, 2024
The investment firm originally filed the paperwork to register the investment product in 2021. VanEck also filed a Form 19b-4 filing with the SEC last September.
The agency had earlier deferred its review of the company’s spot Ethereum-ETF registration documents. Along with VanEck’s application to launch a crypto fund, the decision on a similar product request from Ark Invest and 21Shares was also postponed.
In addition to the mentioned market players, spot Ethereum-ETF registration documents were filed by companies such as:
- BlackRock;
- Fidelity Investments;
- Franklin Templeton;
- Invesco and Galaxy Digital;
- Grayscale Investments.
In December 2023, the SEC deferred most of the applications for the mentioned cryptocurrency ETFs. The new deadline for a decision on these products is set for March 5, 2024.
Earlier, it was reported that VanEck intends to close the Ethereum-ETF futures ETF. As a reason, the company indicated the approval of the spot bitcoin-ETF.
Recall, we wrote that VanEck will allocate 5% of profits from the spot bitcoin-ETF to support the ecosystem.
