The $89.5 billion asset management firm VanEck has officially filed an S-1 for its Spot Ethereum ETF. The firm made the filing with the US Securities and Exchange Commission (SEC) on Monday in what is a critical part of the ongoing approval process for the ETH ETF.
Bloomberg analyst Erich Balchunas noted that the action should be followed by several similar filings from issuers today. The only exception is Bitwise, who had filed their S-1 last week. The development has led many experts to predict the Ethereum investment product to go live in the next two weeks.
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VanEck Files S-1 for Ether ETF
The crypto market is headed toward a monumental moment, as Ethereum ETFs are near arrival. Approved earlier this year, the ETH investment offering will be the second crypto-based ETF in the United States. Now, a critical development could have the product greenlit sooner rather than later.
Asset manager VanEck has filed an S-1 with the SEC for its Spot Ethereum ETF. According to Bloomberg’s Balchunas notes the filing puts the “ball back in the SEC’s court.” The product had previously been predicted to launch on July 4th, with that now extending to this week.
Also Read: Ethereum ETF Approval: A Milestone in the Crypto’s Journey
ETF Institute co-founder Nate Garaci took to X (formerly Twitter) predicted an impending arrival. Specifically, he forecasted “issuers gearing up for launch in the next week or two.” Moreover, the development could open the door for even more crypto ETFs in the coming year.
VanEck has already waived its initial fee for the Ethereum ETF. The firm also announced it will charge 0.2% if it is able to surpass $1.5 billion in total assets. Conversely, earlier this month, the firm predicted that ETH could reach $22,000 by the year 2030.