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Breaking: VanEck Files Spot Ethereum ETF S-1 Amendment

Asset management firm, VanEck filed its amended spot Ethereum ETF S-1 with the Securities and Exchange Commission.
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Breaking: VanEck Files Spot Ethereum ETF S-1 Amendment

Highlights

  • VanEck filed its amended spot Ethereum ETF S-1.
  • This comes as issuers look to a possible listing this summer.
  • Meanwhile, Ethereum’s price has tanked below $3,000 amid poor sentiments.

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. 

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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.” 

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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

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David Pokima

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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