21Shares Files Updated S-1 For Spot Ethereum ETF

Joshua Ramos
Source: 21Shares

With the investment product nearing arrival, 21Shares has officially filed its updated S-1 form for its Spot Ethereum ETF. The crypto investment firm is the second issuer to take the step, following asset manager VanEck’s updated S-1 being filed earlier today.

Now, all eyes are on the US Securities and Exchange Commission (SEC). The amended filings have led many experts to predict the ETH ETF to launch at some point within the next two weeks. Moreover, the market expects all issuers to follow 21Shares and VanEck in submitting the updated filings.

Also Read: 21Shares Officially Files for Spot Solana ETF

21Shares is Second Issuer to Submit Update S-1 for ETH ETF

2024 has seen two crypto-based ETFs receive approval in a landmark year for the crypto market. Now, the second is nearing its official launch, as 21Shares has become the second prospective issuer to submit an updated S-1 form for its Spot Ethereum ETF.

The firm follows VanEck’s amended filing earlier today. Moreover, Bloomberg analyst Eric Balchunas noted his expectation that all will follow suit, outside of Bitwise who submitted the filing last week. Now, Balchunas said the ball is “back in the SEC’s court.”

Also Read: Ethereum ETF Approval: A Milestone in the Crypto’s Journey

ETF expert Nate Geraci noted that the updated filings alter the timeline for the ETH product to go live. The co-founder of the ETF Institute predicted the products to launch on July 15th. Subsequently, that notes that the SEC is likely to approve the recent filings in the next week or two.

The anticipation has already affected Ethereum. The asset broke through the $3,000 mark earlier today. Moreover, the token’s trading volume skyrocketed 116% today, according to CoinMarketCap. The arrival of the Spot ETH ETF is expected to bring about a massive rally for the asset.