Ethereum ETF readiness strengthens with Fidelity, Grayscale, and VanEck leading the way.

adminMay 22, 2024

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Preparations for a spot Ethereum exchange-traded fund (ETF) are in overdrive, with updated filings pouring in from big fund management companies including Fidelity, Grayscale and VanEck.

Cboe BZX updated its 19b-4 filings for five spot Ethereum ETF applications, VanEck’s ETH ETF fund was listed on the Depository Trust and Clearing Corporation (DTCC) website, and Fidelity and Grayscale modified their applications to exclude staking .

Form 19b-4s for the VanEck Ethereum Trust, Franklin Ethereum Trust, Invesco Galaxy Ethereum ETF, ARK 21Shares Ethereum ETF, and Fidelity Ethereum Fund were updated by Cboe BZX at the end of May 21.

The filing follows growing market optimism that the Securities and Exchange Commission (SEC) is moving to prepare for the launch of a spot ETH ETF this month.

“It’s still a long way from launch,” Bloomberg ETF analyst James Seyffart said of X. “But these documents prove that all the rumors, speculation and gossip were correct.”

There’s still a long way to go before launch. But these documents prove that all the rumors, speculations and gossip were correct. You really have to check the SEC approval orders for all the 19b-4s and then you also have to check the S-1 approvals. It may take a few weeks or more for the ETF to launch.
— James Seyff (@JSeyff) May 21, 2024

“You really have to check the SEC approval orders for all 19b-4s and make sure you also check the S-1 approvals,” Seyffart added.

Full-scale preparation ahead of possible approval

Still, the preparation of applicants is now in full swing. Global investment management company VanEck’s fund has been listed. DTCC homepage.

According to the DTCC website, this listing is only part of the preparatory process and does not serve to confirm the full launch of the fund. VanEck’s spot Ethereum ETF is marked with an “N” below. inclination Create/implement a column.

meantime, grayscale Both Fidelity and Fidelity amended their applications prior to SEC approval. Both asset managers have updated their filings to exclude proposals that would allow investors to stake ETH through their respective funds.

It looks like Grayscale is removing the staking language for file conversion. $ETH With ETFs. (This is expected) https://t.co/iccI7inQnh
— James Seyff (@JSeyff) May 21, 2024