VanEck, a fund manager, took a significant step last Tuesday in the direction of launching a spot Ethereum exchange-traded fund (ETF) by filing Form 8-A with the U.S. Securities and Exchange Commission (SEC). This crucial move registers the product for trading once it receives the regulatory green light.
This latest development follows similar actions by other companies in the sector who 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. Notably, the SEC has approved Forms 19b-4 for eight Ethereum ETFs in the last month, although registration statements have not yet been authorized to go into effect for trading.
In the past, companies aiming to launch spot bitcoin ETFs have filed Form 8-A about a week before the products actually begin trading following SEC approval. This pattern could indicate 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, highlighting that the Form 8-A filing is “just part [of] the process.” In a post on X, Balchunas highlighted that “it should be 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 ETH price was quoted at US$3.414,02 with an increase of 4% in the last 24 hours.
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