- VanEck has completed another step in the Ethereum ETF registration process.
- An expert has tipped the firm’s filing as a potential sign of things to come.
- The VanEck filing is the latest in a series of actions signaling a race to launch.
ETFs, not BTC, ETH, or BNB, have been the most important three-letter acronym in the crypto space in 2024. In January 2024, the focus was on Bitcoin as the SEC made the landmark decision to approve spot Bitcoin ETFs. Fast forward to June 2024, and this attention has shifted to Ethereum following an SEC decision in May to approve a rule change setting the stage for the trading of spot Ethereum ETFs.
As the industry awaits the approval of S-1 filings that would signal the launch of these products for trading, experts have tipped July 2 as the date to watch. A recent VanEck filing has further helped to stoke this speculation.
Ethereum ETF July 2 Launch Date Confirmed?
VanEck has completed another step in the Ethereum ETF registration process. On Tuesday, June 25, the $89 billion asset manager submitted a Form-8A for its Ethereum ETF offering.
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A Form-8A is a filing required to list securities on a national exchange, offering detailed disclosure about the security and its issuers. While the filing of a Form-8A is standard procedure in any ETF registration process, Bloomberg Senior ETF Analyst Eric Balchunas has noted that VanEck’s recent filing could be significant in determining the launch date of Ethereum ETFs.
Citing a pattern in the approval of Bitcoin ETFs, Balchunas suggested that VanEck’s filing could support the prediction of a July 2 launch date for Ethereum ETFs.
"VanEck just filed 8-A form for spot Eth, which is just part of process, but.. 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 again, anything poss. Sure we'll hear more soon," he wrote.
The VanEck filing is the latest in a series of actions signaling a race to launch.
Ethereum ETF Issuers Race to Turn in Amendments
On Friday, June 21, several Ethereum ETF issuers, including VanEck, submitted amended S-1 filings revealing critical details like their seed capital and fees. While VanEck has yet to reveal its seed capital, it has unveiled its fee. The firm is one of only two issuers to do so.
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The firm’s amended filing disclosed that it would charge investors a 0.20% fee, which it intends to suspend till sometime in 2025, making its ETF free at launch.
On the Flipside
- The approval of spot Bitcoin ETFs seven days after VanEck’s Form-8A may just be a coincidence.
- Most experts believe that spot Ethereum ETFs are unlikely to attract the same level of inflows as their Bitcoin counterparts.
Why This Matters
ETFs are tipped to attract a new wave of investors to the Ethereum space. The recent VanEck filing further inspires confidence that the SEC will approve these products for trading sooner rather than later.
Read this for more on the latest in the ETH ETF filing watch:
ETH ETF Amendments Pour in as Experts Maintain July 2 Date
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