VanEck Spot Ethereum ETF Was Filed New S-1A Document

Key Points:

• The company submits for VanEck spot Ethereum ETF, reflecting growing interest.
• SEC delays decisions on Ethereum ETFs due to transition concerns.

Investment asset management firm VanEck has taken a significant stride in the cryptocurrency market by submitting its S1-A form for the proposed VanEck spot Ethereum ETF.

VanEck Spot Ethereum ETF Revised Amid Cryptocurrency Surge

This move follows the company’s initial filing for VanEck spot Ethereum ETF with the SEC in late 2023.

Meanwhile, Bloomberg analysts Eric Balchunas and James Seyffart reported on social media that VanEck has submitted a revised S-1A filing, while ARK 21Shares has submitted a new 19b-4 filing along with additional analytical explanations for its own spot Ethereum ETF. The SEC currently has several spot Ethereum ETF applications awaiting approval, spurred by the success of spot Bitcoin ETFs.

However, regulatory hurdles persist. American multinational asset manager BlackRock‘s Ethereum ETF application faces delays, with the SEC postponing a decision until March 10, 2024, citing the need for additional deliberation. Similarly, Grayscale Investments’ and Fidelity‘s spot Ethereum ETF applications have been delayed, alongside those of ARK Invest and VanEck.

SEC Delays Ethereum ETF Decisions Amid Transition Concerns

The SEC’s caution stems from concerns about Ethereum’s transition to a proof-of-stake mechanism, fearing potential market manipulation and fraud under its current consensus model. This cautious approach is underscored by VanEck’s recent regulatory fine of $1.75 million imposed by the SEC for its spot Bitcoin ETF.

In a related development, VanEck has announced a reduction in operating fees for its VanEck Bitcoin Trust (HODL) from 0.25 percent to 0.20 percent, effective February 21.