Ethereum ETF: Here are all applications awaiting SEC approval:

next historical approval Of 11 digits Bitcoin exchange traded fund Back in January, industry observers are now wondering when the U.S. Securities and Exchange Commission (SEC) might give its approval. Ethereum equivalent.

For those who don’t know, exchange traded funds (ETFs) are popular investment vehicles traded on stock exchanges. It allows investors to purchase stocks that track the prices of all underlying assets, from gold and foreign currencies to cryptocurrencies and technology stocks.

If approved, a spot Ethereum ETF, like Bitcoin, would mean a fund manager would be responsible for purchasing and storing ETH digital coins and would invite people to buy shares that track its value. This gives people exposure to the second largest cryptocurrency by market capitalization.

Several well-known financial companies have filed Form S-1 with the SEC. Simply put, companies file these forms to notify regulators that they plan to offer securities to the public and provide detailed information about their business.

The documents currently on the SEC desk awaiting approval are: Deadlines for SEC decisions on proposed products range from late May to early August.

black stone

BlackRock, the world’s largest asset management company contaminated Form S-1 iShares Ethereum Trust Proposal Again in November.

SEC delay Decisions on potential products from fund managers must be made early this year, and there is currently until August 7th.

The company’s CEO, Larry Fink, appears to be passionate about cryptocurrencies and their networks. said “There is value in owning an Ethereum ETF.” He also said that “tokenization” was inevitable.

grayscale

Crypto asset manager Grayscale is awaiting a response from the SEC. filing In October, there was a proposal to convert the Grayscale Ethereum Trust into a spot Ethereum ETF.

The current trust operates like a closed-end fund. The idea is that as an ETF, it will be easier for investors to redeem their shares. that Bitcoin Trust Since it was converted to an ETF in January, there is already a precedent for how these cryptocurrencies can be converted to a physical ETF.

Grayscale is a big part of why Bitcoin ETFs are currently trading in the US. At a landmark moment for the cryptocurrency industry last year, one judge said: I took the company’s side In the lawsuit, Wall Street’s biggest regulator agreed with the company that it lacked a coherent explanation for rejecting its proposed switch to a Bitcoin ETF after years of rejection.

The ruling paves the way for the SEC to provide permission to discover Bitcoin ETFs.

Still, the SEC appears to be in no rush with its latest approval. pushed back The decision was made in January. Regulators now have until June 18 to decide whether to grant approval.

And just last month, the company contaminated The same goes for “mini” Ethereum trusts. The idea of ​​the fund is to offer lower fees to shareholders.

Ark Invest/21 weeks

ARK Invest, Cathie Wood’s large technology investment management firm. contaminated Last September, we proposed an Ethereum ETF to the SEC.

The ETF partners with cryptocurrency ETF issuer 21Shares and appoints Coinbase, the largest U.S. digital asset exchange, as custodian. This means that a recognized company holds and stores ETH in its products. The product decision deadline is May 24.

fidelity

Financial services giant Fidelity has made it clear that Cboe, the exchange where the product will be traded, wants to discontinue its Ethereum ETF in November.contaminated Filing a 19b-4 on behalf of a company.

Then, in March, the massive company filed an S-1 with the SEC for the Fidelity Ethereum Fund. The SEC is expected to make a decision on the product on August 3.

Van Eck

Asset manager VanEck was the first fund manager. file In 2021, the SEC proposed an Ethereum ETF. at the end of that year withdrew The proposal was later resubmitted.

The company’s Bitcoin ETF has been a successful product, and VanEck even exemption This fee is intended to better compete with other funds in the market. The SEC is expected to issue a decision on the product on May 23.

Hashdex

Nasdaq in September contaminated Proposal for the Hashdex Nasdaq Ethereum ETF on behalf of Brazilian fund manager Hashdex.

Hashdex already has several cryptocurrency ETFs trading in Brazil. In the US, the Hashdex Bitcoin ETF received approval from the SEC in January but is not yet trading on stock exchanges. In March, it said it would convert its Bitcoin futures ETF to a spot ETF at a later date. The SEC is expected to make a decision on May 30.

Franklin Templeton

Wall Street giant Franklin Templeton participated in the race When February comes contaminated Proposal to SEC. The filing for the proposed Franklin Ethereum Trust mentions: stakingThe process of locking up digital coins or tokens to keep the blockchain functioning.

“From time to time, a portion of the Fund’s assets may be staked through one or more trusted staking providers,” the proposal states. The SEC is expected to make a decision on the product on June 11.

Invesco/Galaxy Digital

Asset management giant Invesco You have submitted your proposal With Galaxy Digital on Mike Novogratz’s ETH ETF in September. that much Form S-1 It was mentioned that Invesco will be the backer of the product and that Galaxy Digital will act as the “executing agent” selling ETH to pay for the Invesco Galaxy Ethereum ETF.

The SEC is expected to approve, reject or delay the product on July 7.

By bit

Digital asset investment company Bitwise contaminated that Form S-1 Together with the SEC, we decided to offer a spot Ethereum ETF in March. Like Franklin Templeton’s filing, Bitwise also mentions staking, noting that the Bitwise Ethereum Trust can stake a portion of the fund’s assets through a trusted staking provider to earn additional rewards.

Matt Hougan, Chief Investment Officer at Bitwise said He expects the ETH ETF to launch in December and predicted it would be more successful if approved later this year anyway.

Editor: Andrew Hayward