VanEck, a fund manager, took a major step last Tuesday by advancing in the process of launching an exchange-traded fund (ETF) for Ethereum. The company has submitted Form 8-A to the U.S. Securities and Exchange Commission (SEC), a crucial step that registers the product for trading once it receives the necessary regulatory approval.
This development follows recent actions by other companies in the sector that have updated their registration statements, known as S-1s or S-3 in the case of Grayscale, which is in the process of converting its Ethereum Trust into an ETF. It is noteworthy that the SEC has already approved Forms 19b-4 for eight Ethereum ETFs in the last month, despite not yet authorizing registration statements to begin trading.
In the past, companies seeking to launch spot bitcoin ETFs have filed Form 8-A about a week before the products actually begin trading following SEC approval. This pattern hints at a possible clue about the imminent launch of VanEck’s Ethereum ETF.
Eric Balchunas, a senior analyst at Bloomberg ETF, commented on VanEck’s move, emphasizing that the Form 8-A filing is “just part of the process.” In a post on X, Balchunas noted that “they filed their 8-A for spot bitcoin exactly 7 days before launch. Good sign for our July 2nd over/under (7 days from now). But then again, anything possible. Of course we will hear more soon.”
Further updates on the progress of this ETF are expected to be released soon, providing more clarity on the future of spot Ethereum ETF trading on the exchange.
At the time of publication, the price of ETH was quoted at US$3,414.02 with an increase of 4% in the last 24 hours.
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