- VanEck files for spot Ether ETF, signaling near launch.
- Eric Balchunas predicts Ether ETF trading by July 2.
- SEC’s Gensler suggests Ether ETF might launch by September.
VanEck, a prominent investment manager, has officially submitted form 8-A for a spot Ether (ETH) exchange-traded fund (ETF) with the United States Securities and Exchange Commission. This crucial step indicates the ETF is nearing its potential introduction to the market.
Eric Balchunas, a senior Bloomberg ETF analyst, suggests that the spot Ether ETFs might begin trading as early as July 2. This estimate stems from VanEck’s similar timeline with its Bitcoin ETF, which launched seven days after its form 8-A filing. Balchunas highlighted the absence of significant comments from SEC staff on the ETF’s S-1 filings, which typically signals a smooth regulatory passage, potentially expediting the listing process.
Regulatory and Political Dynamics
Despite the optimistic forecast by Balchunas, SEC Chair Gary Gensler has a more conservative viewpoint. Gensler stated that the Ether ETFs’ appearance on stock exchanges could extend into September, emphasizing that the timeline largely depends on the response speed of the applicants.
This development coincides with increased political interest in cryptocurrencies due to the upcoming 2024 presidential election, highlighting crypto as a significant topic among voters.
Read CRYPTONEWSLAND on
google news
According to the Stand With Crypto political action committee, a notable segment of the American electorate, approximately 52 million people, now hold cryptocurrencies, enhancing their influence in political arenas.
VanEck’s move to file for the ETF, coupled with the political undercurrents influencing regulatory actions, marks a significant moment for cryptocurrency’s integration into mainstream financial services. This development mirrors the growing acceptance and normalization of digital currencies in the investment landscape, poised to attract more participants to the burgeoning market.
Read Also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
