Ethereum

Future

Spot

VanEck, the $89.5 billion asset management firm, has formally filed an S-1 for its Spot Ethereum ETF. The firm filed with the US Securities and Exchange Commission (SEC) on Monday, a vital element of the continuing clearance process for the Ethereum ETF.&nbsp; 
Regulatory Progress According to Bloomberg analyst Erich Balchunas, VanEck’s <a href="https://www.sec.gov/Archives/edgar/data/1860788/000093041324002024/c109048_s1a.htm" target="_blank" rel="noreferrer noopener">filing</a> places the decision-making process firmly in the hands of the SEC. The product, which was initially anticipated to launch on July 4th, has now seen its expected debut pushed to the next couple of weeks.&nbsp; 
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 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">pic.twitter.com/gF6OZTKIrs</a>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1810331280006861268?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 8, 2024</a>
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This adjustment reflects a broader industry trend, with other issuers also expected to file similar applications, following Bitwise, which<a href="https://www.cryptotimes.io/2024/07/04/bitwise-files-amended-s-1-for-ethereum-etf-ahead-of-launch-deadline/" target="_blank" rel="noreferrer noopener"> submitted</a> their S-1 last week. Nate Garaci, co-founder of ETF Institute, expressed on X (formerly Twitter) that the market could see the Ethereum ETF and possibly additional crypto ETFs launching very soon. 
Financial Structure and Future Predictions 
 VanEck has set an appealing financial structure for potential investors by waiving the initial fee for its Ethereum ETF. Furthermore, the firm announced a modest management fee of 0.2% should the ETF’s total assets exceed $1.5 billion. This strategic pricing may help to attract more investors seeking to allocate part of their portfolios to cryptocurrency. This month, in a rather optimistic estimate, <a href="https://www.cryptotimes.io/2024/06/06/vaneck-predict-eth-22000-price-target-boosts-portfolio/" target="_blank" rel="noreferrer noopener">VanEck said</a> that Ethereum might achieve a price of $22,000 by 2030, which shows the firm’s confidence in the coin’s future. 
As the SEC looks at the recent submissions, the interested financial markets observe the possible effect that these ETFs may bring to the general market. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/07/08/spot-ethereum-etf-could-potentially-as-early-as-july-15th/" target="_blank" rel="noreferrer noopener">Spot Ethereum ETF Could Start Trading by July 15th – ETFStore President</a> 
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VanEck Files S-1 for Ethereum ETF with SEC, Eyes Launch Soon

The Crypto Times

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