Asset management giant, VanEck, has officially submitted its S-1 filing to the U.S. Securities and Exchange Commission (SEC) for the proposed Ethereum Spot ETF. This significant move heightens expectations for the approval of the Ethereum investment product, which is being predicted to launch in the next couple of weeks.
VanEck’s filing puts a new spin on the crypto ball game, as it’s now in the SEC’s domain to bring an Ethereum ETF to play. If approved, it would represent the second crypto-based ETF in the United States. So, the crypto community waits with bated breath, as the initial launching date of July 4 is stretching into the current week.
But there’s a sense of anticipation in the air. Co-founder of ETF Institute, Nate Garaci, forecasts that other issuers are also likely to gear up for launch in the forthcoming weeks. If this development gains momentum, we might also see a surge in crypto ETFs being launched in the year ahead.
Adding to the Ethereum excitement, VanEck is offering a unique deal for early birds by waiving the initial fee for its Ethereum ETF. There’s a slight twist though, as the firm will implement a 0.2% charge, if the total assets cross the $1.5 billion mark. Meanwhile, VanEck has remained positive about Ethereum’s price potential, predicting it could touch a whopping $22,000 by 2030. Despite waiting in the wings for now, Ethereum’s ETF future looks promising.