Asset management companies VanEck and 21Shares have made changes to their S-1 registrations with the United States Securities and Exchange Commission (SEC) in order to list and trade shares of a spot Ether (ETH) exchange-traded fund (ETF).
On July 8, VanEck updated its Form S-1 registration statement as part of its efforts to obtain final approval from the SEC for its Ethereum ETF. 21Shares also filed an amended form for its Core Ethereum ETF. Although neither filing provided a specific launch date on US exchanges, they stated that it would occur “as soon as practicable after the effective date” of the registration.
The amended filings represent the final stage of approvals required by the SEC before asset management firms can list shares of spot Ether ETFs. Bitwise submitted its own amended registration on July 3, and experts anticipate that other companies will follow suit within the next seven days.
Regarding the approval process, the SEC approved spot Ether ETF 19b-4 filings from eight asset managers, including VanEck, 21Shares, and Bitwise, on May 23. Experts have suggested that final approvals may be granted in July. SEC Chair Gary Gensler mentioned during a June Senate Banking Committee hearing that the commission could approve the S-1s “sometime over the course of this summer,” but did not provide a specific date.
VanEck initiated its application for a spot Ether ETF in January after the SEC approved the listing and trading of spot Bitcoin (BTC) ETF shares. The approval process may have been delayed due to reports that the SEC was investigating whether to classify ETH as a security. However, in June, Consensys’ legal team stated that the commission had dropped the matter.
Source:
U.S. Securities and Exchange Commission