Ethereum

Rule

The United States Securities Exchange and Securities Commission (SEC) has approved the VanEck Ethereum exchange-traded fund (ETF), marking a huge milestone for the market.
The Notice of Effectiveness of the ETF was <a href="https://www.sec.gov/Archives/edgar/data/1860788/999999999524002212/xslEFFECTX01/primary_doc.xml" target="_blank" rel="noopener nofollow">filed</a> on July 22 and aims to provide investors with a regulated means of gaining exposure to Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) in the US.
The approval follows a series of filing and amendments submitted to the SEC, reflecting a long period of regulatory scrutiny.
Related: <a href="https://cointelegraph.com/news/grayscale-confirms-ethereum-etfs-begun-trading-nyse">Grayscale’s spot Ether ETFs launch on New York Stock Exchange</a>
<h2 data-ct-non-breakable="true" id="the-approval-and-key-filings">The approval and key filings</h2>
VanEck began pushing for a spot Ether ETF with its initial registration <a href="https://www.sec.gov/edgar/browse/?CIK=0001860788" target="_blank" rel="noopener nofollow">filing</a> on May 7, 2021, with prolonged efforts and delays to meet the regulatory standards required for its approval.
Essential filings in the lead-up to the approval include the Prospectus under Rule 424(b)(3) and multiple amendments to the&nbsp; Form S-1 as the firm adjusted to SEC compliance requirements.
The SEC requires S-1s for companies planning their first public securities offering, while the Rule 424(b)(3) prospectus provides final offering details after the S-1 is effective.
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 <img src="https://s3.cointelegraph.com/uploads/2024-07/f31e7090-0f41-45ce-a269-ca8a70326bad.png" alt="VanEck Ethereum ETF receives SEC green light " title="">
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 Source: <a href="https://x.com/vaneck_us/status/1815639768178303314" target="_blank" rel="noopener nofollow">VanEck</a>
 </figcaption>
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Related: <a href="https://cointelegraph.com/news/grayscale-transfers-1b-eth-coinbase-ahead-ether-etf-launch">Grayscale transfers $1B in ETH to Coinbase ahead of Ether ETF launch</a>
<h2 data-ct-non-breakable="true" id="s-1-amendments">S-1 amendments</h2>
In July 8 filings, VanEck amended its S-1 registration with the SEC to secure the listing and trading of spot ETF shares.
As the last stage in the SEC ETF approval process, the crypto investments firm 21Shares also made amendments to receive final approval from the SEC.
Both firms’ filings did not include launch dates for US exchanges but indicated that the Ethereum ETFs would be launched as soon as practicably possible “after the effective date.”
Related: <a href="https://cointelegraph.com/news/ethereum-etf-price-sensitive-inflows-for-days-kaiko">Ethereum price will be ‘sensitive’ to ETF inflows in the coming days — Kaiko</a>
<h2 data-ct-non-breakable="true" id="grayscale-spot-ether-etf-launches-on-nyse">Grayscale spot Ether ETF launches on NYSE</h2>
Amid the SEC’s Ether ETF approvals, digital asset manager Grayscale confirmed that its two spot Ether ETFs officially began trading on July 23 on the NYSE Arca. 
<a href="https://cointelegraph.com/news/grayscale-confirms-ethereum-etfs-begun-trading-nyse">The launch of the Grayscale ETFs</a>&nbsp;follows the SEC’s decision to sign off on the final approval on July 22, allowing several issuers to launch their products for trading. 
On July 22, Grayscale transferred over $1 billion worth of ETH to Coinbase in preparation for the launch of its ETFs, moving 292,263 ETH,&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1725210/000119312524181085/d796604ddef14c.htm" target="_blank" rel="noopener nofollow">according</a> to its Ethereum Mini Trust July 18 filing. 
Magazine: <a href="https://cointelegraph.com/magazine/pudgy-penguins-pixelverse-ether-etfs-price-impact-hodlers-digest-july-14-20/">Pudgy Penguins lands in Pixelverse, Ether ETFs, and more: Hodler’s Digest, July 14-20</a>

VanEck Ethereum ETF receives SEC green light

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