continue, historical recognition of 11 spots Bitcoin exchange traded fund In January, industry players are now wondering when the U.S. Securities and Exchange Commission (SEC) will grant approval. Ethereum Equivalent.
For those who don't know, exchange-traded funds (ETFs) are popular investment vehicles that trade on stock exchanges. This allows investors to buy stocks that track the price of any underlying asset, from gold and foreign currencies to cryptocurrencies and tech stocks.
If the Spot Ethereum ETF is approved, similar to Bitcoin, a fund manager would be in charge of buying and storing the ETH digital coin, and would encourage people to buy stocks that track its value. This will allow people to have access to the second largest cryptocurrency by market capitalization.
Several well-known financial companies have filed S-1 forms with the SEC. In other words, companies file such forms to alert regulators that they plan to offer securities to the public and provide a detailed breakdown of their business.
Below are the filings currently on the SEC's desk awaiting approval. The deadline for the SEC's decision on the proposed product is from the end of May to early August.
black rock
BlackRock, the world's largest asset management company, It has been submitted S-1 form Proposing iShares Ethereum Trust Back in November.
SEC delay Decisions on potential products for fund managers were made earlier this year and are now due until August 7.
The company's CEO, Larry Fink, seems to be passionate about cryptocurrencies and their networks. Said This means that there is value in owning an Ethereum ETF. He also talks about the inevitability of “tokenization.”
grayscale
Crypto asset management company Grayscale is then awaiting a response from the SEC. filing In October, it proposed converting the Grayscale Ethereum Trust into a Spot Ethereum ETF.
The current trust is currently operated like a closed-end fund. As an ETF, the idea is to make it easier for investors to redeem their shares.the bitcoin trust was converted to an ETF in January, so there is already precedent for how such a crypto vehicle could transition to a spot ETF.
Grayscale is a big part of why Bitcoin ETFs are currently trading in the US. In a landmark moment for the crypto industry last year, the judge said: stood by the company The lawsuit agreed with the company that Wall Street's biggest regulator lacked a consistent explanation for rejecting the company's long-denied proposal to convert it into a Bitcoin ETF.
This ruling clears the way for the SEC to give the go-ahead to identify a Bitcoin ETF.
Nevertheless, the SEC doesn't appear to be rushing to approve the latest approval. pushed back About making a decision in January. Regulators now have until June 18 to make a yes or no decision.
And just last month, the company It has been submitted The same is true for “mini” Ethereum trusts. The idea of this fund is to lower fees to shareholders.
Ark Investment/21 shares
Cathie Wood's leading technology investment management company, ARK Invest, It has been submitted In September, we proposed an Ethereum ETF to the SEC.
The ETF is affiliated with crypto ETF issuer 21Shares and has appointed Coinbase, the largest digital asset exchange in the US, as its custodian. In other words, approved companies will hold and store ETH in products. The deadline for product decisions is May 24th.
fidelity
Fidelity, a major financial services company, announced that it wants to discontinue Ethereum ETFs from Cboe, an exchange that trades them, in November.It has been submitted 19b-4 on behalf of the company.
And in March, the behemoth filed an S-1 for the Fidelity Ethereum Fund with the SEC. The SEC is expected to make a decision on this product on August 3rd.
Van Eck
Van Eck, an asset management company, said: File Proposal of Ethereum ETF to SEC in 2021.Proposed later in the same year withdrew The proposal was submitted and then submitted again.
The company's Bitcoin ETF has been a successful product, even VanEck abandoned Fees to be more competitive with other funds in the market. The SEC is expected to make a decision on the product on May 23rd.
hash dex
Nasdaq in September It has been submitted Proposal on behalf of Brazilian fund manager Hashdex for its Hashdex Nasdaq Ethereum ETF.
Hashdex already trades several crypto ETFs in Brazil. In the U.S., the company's HashDex Bitcoin ETF received clearance from the SEC in January but is not yet traded on a stock exchange. The company announced in March that it would convert its Bitcoin futures ETF into a spot ETF at a later date. The SEC is scheduled to make a decision on May 30th.
franklin templeton
Wall Street Giant Franklin Templeton participated in the race in February It has been submitted Recommendations to the SEC.The proposed Franklin Ethereum Trust application notes: stakingthe process of locking up digital coins or tokens to keep the blockchain running.
The proposal states that “from time to time, we may stake a portion of the Fund's assets through one or more trusted staking providers.” The SEC is scheduled to make a decision on the product on June 11th.
Invesco/Galaxy Digital
Asset management giant Invesco submitted a proposal I bought the ETH ETF with Mike Novogratz's Galaxy Digital in September.of S-1 form Invesco will sponsor the product, and Galaxy Digital will act as its “executive agent” and say it will sell ETH to pay for the Invesco Galaxy Ethereum ETF.
The SEC is expected to approve, deny or delay the product on July 7th.
bit by bit
Digital asset investment company Bitwise It has been submitted the S-1 form Collaborated with SEC to offer Spot Ethereum ETF in March. Similar to Franklin Templeton's filing, Bitwise also mentions staking, with the Bitwise Ethereum Trust potentially staking a portion of the fund's assets through trusted staking providers to earn additional rewards. It is pointed out that there is a sex.
Matt Hogan, Chief Investment Officer of Bitwise, said: Said He predicted that the ETH ETF would launch in December, and that it would be even more successful if approved by the end of the year anyway.
Edited by Andrew Hayward
