- VanEck has officially filed an S-1 with the SEC for its Spot Ethereum ETF, a critical step in the approval process.
- Analysts predict the Ethereum ETF could go live within the next two weeks, following similar filings from other issuers.
- VanEck has waived the initial fee for the Ethereum ETF and will charge 0.2% if it surpasses $1.5 billion in total assets.
VanEck, an asset management firm with $895 billion in assets under management, has taken a major step forward in launching a Spot Ethereum ETF. The company filed an S-1 with the SEC on Monday, moving closer to receiving approval to bring the product to market.
VanEck Submits S-1 Filing
The S-1 filing by VanEck is a critical part of the approval process required by the SEC for new exchange-traded funds (ETFs). The filing provides regulators with key details on the proposed ETF and puts the approval process into motion.
Bloomberg analyst Erich Balchunas noted this filing should be followed by several similar filings from other issuers today. The only exception is Bitwise, which submitted its S-1 last week.
Impact on Potential ETF Launch Timeline
Many experts predict VanEck’s ETF could launch within the next two weeks thanks to this filing. The crypto market is nearing a major milestone with the impending arrival of Ethereum ETFs in the US.
The VanEck Ethereum ETF was previously expected to launch on July 4th, but that target has now extended to this week following the S-1 submission.
ETF Institute co-founder Nate Geraci forecasted on Twitter that issuers are likely gearing up for launch in the “next week or two.” The ETF approvals could open the door for many more crypto ETFs to come in the next year.
VanEck Waives Fees, Predicts Big Growth for Ethereum
In a show of confidence, VanEck has already waived its initial fee for the Ethereum ETF. The company also stated it will only charge 0.2% in fees if the ETF surpasses $15 billion in total assets.
Earlier this month, VanEck predicted Ethereum could reach $22,000 per ETH by 2030. The firm is clearly betting big on Ethereum’s growth in both the short and long term.
Conclusion
VanEck’s S-1 filing is the latest sign that Ethereum ETFs are nearing reality in the US. The company’s willingness to waive fees and positive Ethereum predictions paint a bright picture for the future of this product. Investors eagerly await the SEC’s response and final approval to bring the first Spot Ethereum ETF to market.
