Coin World News Report:
Asset management company VanEck, with $89.5 billion in assets, has officially filed an S-1 for its Ethereum ETF. The company submitted the application to the U.S. Securities and Exchange Commission (SEC) on Monday, which is a crucial part of the ongoing approval process for the ETH ETF.
Bloomberg analyst Erich Balchunas pointed out that after taking this action, issuers should submit several similar documents today. The only exception is Bitwise, which submitted an S-1 last week. This development has led many experts to predict that Ethereum investment products will go live within the next two weeks.
Also read: Solana: VanEck says SOL ETF is more likely if the U.S. Securities and Exchange Commission dismisses Gensler
VanEck submits S-1 for Ethereum ETF
With the upcoming Ethereum ETF, the cryptocurrency market is heading towards a milestone moment. The approved ETH investment offering earlier this year will be the second cryptocurrency-based ETF in the United States. Now, a crucial development may expedite the approval process for the product.
Asset management company VanEck has submitted an S-1 for its Ethereum ETF to the U.S. Securities and Exchange Commission. According to Bloomberg’s Balchunas, the application “throws the ball back into the SEC’s court.” The product was previously expected to launch on July 4th, but will now be extended to this week.
Also read: Approval of Ethereum ETF: A Milestone in the Cryptocurrency Journey
Nate Geraci, co-founder of ETF Research Institute, predicted the imminent arrival on X (formerly Twitter). Specifically, he predicted that the issuer “will be launching in the next week or two.” Furthermore, this development could open the door to more cryptocurrency ETFs launching in the coming year.
VanEck has waived the initial fee for the Ethereum ETF. The company also announced that it will charge a fee of 0.2% if total assets exceed $1.5 billion. In contrast, earlier this month, the company predicted that ETH could reach $22,000 by 2030.
