Breaking: VanEck Files Spot Ethereum ETF S-1 Amendment

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Investment management firm VanEck has filed its amended spot Ethereum ETF S-1 to the Securities and Exchange Commission (SEC). This comes after the Commission returned forms to issuers seeking minor changes. As the race to a potential listing in the summer nears, issuers place final touches on these investment vehicles. 

VanEck Amends Ethereum ETF S-1

VanEck has filed its amended S-1 with the financial regulator with experts pointing to a near final approval date. The SEC approved 19b-4 filings of eight potential issuers in May but has delayed the final S-1 application with Gary Gensler point to a date this summer.

As investors anticipate trading spot Ethereum ETFs in the United States, firms are set to release updates to their fee structure. VanEck is aiming to trade under the “ETHV” ticker as users expect low fees. This development sparked a frenzy along social media spaces as bulls look to a future change in market sentiments.

Last week, Bitwise filed its S-1 amendment with a 6-month waiver of up to $500 million while other issuers are expected to submit applications today. Nate Geraci, the President of ETF Store noted that with amendments, institutions are gearing up for a potential launch in a week or two.

Similarly, Bloomberg’s analyst Eric Balchunas who previously expressed a near-term approval time frame for these products added that they put the ball in the regulator’s court. “First S-1 just rolled in today from VanEck.. they already had their fee so nothing to see here really, they just putting the ball back in SEC’s court. Expecting the rest today except for Bitwise who did theirs last week.” 

Users Anticipate Approvals 

Ethereum users look forward to spot ETF listings in a bid to attract massive institutional inflows to the asset. Drawing lines with the approval of Bitcoin ETFs, ETH holders anticipate price upswings to wipe out previous losses. Ethereum trades at $2,983, down 20% from the approval of 19b-4 applications.

Also Read: UBS Raises NVIDIA Price Target to $150, How Will AI Coins React

The post Breaking: VanEck Files Spot Ethereum ETF S-1 Amendment appeared first on CoinGape.

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