VanEck has submitted an updated proposal to the SEC to launch an Ethereum ETF. The initial application was submitted in 2021, and if approved, the ETF is expected to be listed on Cboe BZX.
This move by VanEck puts them in competition with other investment firms such as Franklin Templeton, Grayscale, BlackRock, and Invesco, as well as with Galaxy.
It is speculated that the SEC may make a decision on registering these products in May, and Grayscale has publicly stated that they hope for a positive outcome in the summer.
In December, SEC Chairman Gary Gensler mentioned “court decisions” as a reason for the agency’s change in stance on Bitcoin spot funds.
However, Commissioner Hester Pierce is confident that this will not be an issue for Ethereum-based products. Despite this, some analysts are skeptical of the imminent registration of spot ETH-ETFs.
