Ethereum

Spot

<p class="is-style-lead">VanEck files amended prospectus ahead of expected approvals for spot Ethereum ETFs.</p> 
<p>Wealth manager VanEck <a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324002024/c109048_s1a.htm" target="_blank" rel="">submitted</a> an updated S-1 registration statement with the Securities and Exchange Commission (SEC) for its bid to launch an Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) ETF that tracks spot prices.&nbsp;The filing was sent before the securities regulator’s deadline for all issuers to provide amended documents by Monday.</p> 
<p>VanEck joined fellow crypto ETF manager Bitwise, which filed its S-1 on July 3. Other firms are expected to submit amended packages by the end of the day. Bloomberg analyst noted that VanEck’s filing disclosed minimal changes and was merely a formality to comply with procedure.</p> 
<p>Both firms already disclosed much of their respective spot Ethereum ETF details, including an initial fee waiver.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">First S-1 just rolled in today from VanEck.. they already had their fee so nothing to see here really, they just putting ball back in SEC's court. Expecting the rest today except for Bitwise who did theirs last week. <a href="https://t.co/gF6OZTKIrs" target="_blank" rel="">pic.twitter.com/gF6OZTKIrs</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1810331280006861268?ref_src=twsrc%5Etfw" target="_blank" rel="">July 8, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p> You might also like: <a href="https://crypto.news/expert-spot-ethereum-etf-to-drive-ether-demand/"> Expert: Spot Ethereum ETF to drive Ether demand </a> </p> 
<h2 class="wp-block-heading" id="spot-ethereum-etfs-likely-to-debut-next-week">Spot Ethereum ETFs likely to debut next week.</h2> 
<p>For spot Ether ETFs to begin trading, the SEC must greenlight the proposals for rule changes in 19b-4 forms and S-1s that allow entities to list ETF shares on authorized national exchanges.&nbsp;</p> 
<p>In May, the agency approved eight 19b-4 forms filed by prospective spot ETH ETF issuers, including Bitwise and VanEck. This completed the first part of a two-step process and fuelled confidence that these Ethereum investment vehicles were imminent.&nbsp;</p> 
<p><a href="https://www.cnbc.com/2024/07/08/spot-ether-etfs-are-coming-with-sec-ruling-expected-soon-.html" target="_blank" rel="">CNBC</a> also reported that trading could begin as late as next week, creating a two-week window for the product’s debut, which falls within remarks from SEC chair Gary Gensler. Gensler testified before a Senate committee that spot ETH ETFs would most likely launch this summer.&nbsp;</p> 
<p>After spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) ETFs launched in January, the crypto rose to an all-time high and has grown over 33% year-to-date despite a recent market decline.&nbsp;</p> 
<p>Speculations around a similar price pattern for Ethereum now abound, with spot ETH ETFs seemingly around the corner. On one hand, proponents like Flipside Crypto data scientist Carlos Mercado surmise that an institutional wrapper might be detrimental for DeFi’s largest currency after Bitcoin.</p> 
<p>Conversely, SCRYPT CEO Norman Wooding told crypto.news that institutional demand will directly lead to higher yield and <a href="https://crypto.news/expert-spot-ethereum-etf-to-drive-ether-demand/" target="_blank" rel="noreferrer noopener">catalyze</a> higher prices for ETH in the long run.&nbsp;Ethereum had forfeited over 18% of its value in a month due to a broad market decline.</p> 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14283693"> 
  <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/07/Screenshot-543-1024x552.png.webp"> 
  <img loading="lazy" decoding="async" width="1024" height="552" src="https://crypto.news/app/uploads/2024/07/Screenshot-543-1024x552.png" alt="VanEck files updated spot Ethereum ETF bid - 23"> 
 </picture> 
 <figcaption class="wp-element-caption">
  ETH data | Source: TradingView
 </figcaption>
</figure> 
<p> Read more: <a href="https://crypto.news/experts-spot-ether-etfs-not-the-boon-industry-thinks/"> Experts: Spot Ether ETFs not the boon industry thinks </a> </p>

VanEck files updated spot Ethereum ETF bid

Indice dei contenuti

crypto.news

Altri articoli pubblicati su 8 lug 2024

Ethereum ETF S-1 Submissions Await SEC Review

Notcoin (NOT) Price Triggers a Huge Bullish Action: Eyes a 25% Upswing in the Next 24 Hours

Hamster Kombat’s HMSTR Token Surges 10000% Pre-Launch

Analyst: Crypto ETFs to form 5% of hedge fund by 2025

Tired of Watching Your Investments Drown? MoonBag Crypto Presale Might Be Your Life Raft While Pe...

Cardano Faces Price Hurdles

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!