Investment management firm VanEck has filed an 8-A form for its pending Spot Ether ETF application. According to Bloomberg ETF analysts, this can be a signal that the full approval of the Ether ETFs is close. Senior Bloomberg ETF analyst Eric Balchunas pointed to VanEck’s 8-A filing for its Bitcoin ETF and the timeline around that approval as a clue for a potential launch window of an Ether ETF.
According to Balchunas, VanEck’s 8-A filing for its Bitcoin ETF was filed seven days before the investment fund launched on the market. Thus, since we are a week away from the previously predicted July 2 launch of Ether ETFs, that prediction seems more plausible. In a post to X, Balchunas said it “should be noted that they filed their 8-A for spot bitcoin exactly 7 days before launch.” He added that this realization was a “Good sign” for their July 2nd over/under date. “But again, anything [is possible] Sure we’ll hear more soon..”
Early this month, Balchunas and another ETF analyst at Bloomberg predicted that Spot Ethereum ETFs could launch in July. The SEC has accelerated looking over crucial forms to speed up the approval process just before the Independence weekend. This is contrary to estimates from the SEC’s chair Gary Gensler, who said that approval may not come until the fall. Gensler put the pressure of the Ether ETF listings on the applicants and claimed the process depends entirely on their response times. However, the applicants have been swift in their responses with appropriate forms. Thus, approval may be around the corner.
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Last week, BlackRock; Grayscale; VanEck, and others submitted their S-1 forms. These forms are necessary to offer new securities publicly. The SEC is ongoing with its review of the S-1 forms, and following approval, the ETFs can launch for purchase. The success of Spot Ethereum ETFs like Grayscale and BlackRock provides confidence amongst investors that Ethereum ETFs may outperform.
Throughout this year, ETFs have dominated the digital asset sector. The industry’s landmark approval arrived in January, with Spot Bitcoin ETFs launching. The impact was near-immediate, as BTC would reach an all-time high just three months after its debut. The launch of Ethereum ETFs is expected to do the same for Ether upon launch. Already at press time, Ethereum is up 50% since the start of the year. Despite a bearish past month, July and August will be interesting in dictating the future of the asset’s price.