VanEck Launches Ethereum ETF Ad Break After SEC Approval
VanEck wasted no time in celebrating the approval of a spot Ether exchange-traded fund (ETF), releasing a 37-second ad urging viewers to “Get into Ether.” The ad was posted on social media on May 23, shortly after the Securities and Exchange Commission (SEC) approved the 19b-4 filing for a spot Ether ETF.
VanEck’s Ethereum ETF ad generated positive response.
The SEC’s approval of VanEck’s filing puts VanEck in the company of other major asset managers such as BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise. However, trading will begin only after the SEC approves each ETF’s S-1 application, a process that can take several months.
VanEck’s ad asks whether Ethereum can foster a less centralized, open-source economy. The ad’s engaging content resonated with audiences, garnering over 1,000 reposts and over 170,000 views.
The online community’s response to the ad was generally positive, with many praising its creativity and message. Colin Goltra, Director of Operations at Yield Guild Games, praised the ad and described it as impactful.
In contrast, some have expressed a more playful interpretation. An anonymous co-founder of DeGods private club
Andrew Thurman, a contributor to the Jito Foundation, humorously drew a comparison with an attention-grabbing ad from a friend who experienced transformation while living in a yurt after taking psychedelic mushrooms.
SEC Approval Strengthens Ethereum’s Commodity Status
This is not the first time VanEck has used advertising to promote Ethereum-related products. In late September, the company released a series of advertisements for its upcoming Ethereum futures ETF, the Ethereum Strategy ETF (EFUT).
While VanEck has been actively promoting Ethereum-related products, other 19b-4 approved asset managers have been relatively quiet. Grayscale and Bitwise are among the few companies to acknowledge their approval in social media posts.
Despite the excitement surrounding the approval of the Ethereum ETF, some industry experts have raised concerns. Coinbase Chief Legal Officer Paul Grewal emphasized that the SEC’s decision confirms Ethereum’s status as a commodity. Grewal’s sentiments were echoed by others, emphasizing Ethereum’s decentralized nature as a key factor in its classification as a commodity.
Also read: Spot Ethereum ETF: Is Current Silence an Early Sign of Rejection?
The post Just In: VanEck Launches Ethereum ETF Advertising Minutes After SEC Approval appeared first on CoinGape.
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