ETFs
VanEck’s Hints at the Impending Launch of Spot Ethereum ETFs
VanEck’s Hints at the Impending Launch of Spot Ethereum ETFs
A recent regulatory filing from VanEck suggests that the launch of US Ethereum ETFs could be in just a week. VanEck, an $89 billion investment manager, submitted a Form 8-A for its VanEck Ethereum Trust on Tuesday, a necessary step to issue certain types of securities on domestic exchanges.
Bloomberg ETF analyst Eric Balchunas pointed out that VanEck filed a Form 8-A for its Bitcoin spot ETF exactly seven days before its Jan. 11 launch. This trend has led Balchunas to speculate that the Ethereum ETF could see a similar timeline, potentially launching by July. 2. “Good sign for our July 2 over/under (in 7 days),” Balchunas noted, while warning that anything is possible.
This situation differs slightly from the Bitcoin ETF launch in January, which was shrouded in uncertainty over regulatory approval. On the other hand, Ethereum ETFs have already received the green light to be listed on national securities exchanges. The Securities and Exchange Commission (SEC) is currently reviewing individual applicants’ S-1 applications, making approval of Ethereum ETFs a matter of “when” rather than “if.” SEC Chairman Gary Gensler confirmed this month that Ethereum ETFs are expected to be approved “sometime this summer.”
There are several signs that Ethereum ETF sponsors are gearing up for an imminent launch. Bitwise has begun airing several television advertisements promoting the advantages of Ethereum over traditional financial systems. For their part, VanEck and Franklin Templeton have already disclosed the management fees of their funds, a detail often kept confidential until the last moment to avoid alerting competitors.