VanEck Posts New ETH ETF Ad on X Minutes After SEC’s ETH ETF Approval

VanEck shared a video ad on X (Twitter) to celebrate the SEC’s approval of its Ether ETF application. The video ad encouraged investors to consider the ETH ETF with the catchy slogan, “Enter the Ether.” VanEck is among the eight firms that got their ETH ETF application approved by the U.S. SEC. 

The half-a-minute-long ad was released slightly over half an hour after the U.S. Securities and Exchange Commission approved VanEck’s spot Ether ETF application.

enter the ether 🫴 pic.twitter.com/YXgKQFP5Nr

— VanEck (@vaneck_us) May 23, 2024

The U.S. SEC approved 19b-4 filings for ETH EFT from eight different asset management firms, including Franklin Templeton, Invesco Galaxy, Bitwise, ARK 21 Shares, BlackRock, Fidelity, and VanEck.

VanEck Submits S-1 Form for Spot ETH ETF

The Exchange Traded Fund issuer, VanEck, did not waste time reacting to the U.S. SEC’s approval. The asset management firm has reportedly filed a revised S-1 application form for its approved Ether spot ETF with the SEC.

Also Read: VanEck Predicts Ethereum Layer 2s to Be Worth $1t by Decade’s End

The asset management firm wants to earn the right to list a tradable Ether ETF. The race currently involves seven other ETF issuers chasing the same goal. ETH ETFs 19b-4 filing approval is just a step toward achieving this goal.

VanEck hopes to have its S-1 filing approved by the U.S. SEC before it begins trading. According to analysts, this process could sometimes take several months.

SEC Approves All ETH ETFs

BOOM!! APPROVED! There it is. The SEC just approved spot #Ethereum ETFs. What a turn of events. It’s really happening.

h/t @PhoenixTrades_ pic.twitter.com/KQ39mDyCbT

— James Seyffart (@JSeyff) May 23, 2024

The U.S. SEC made a landmark decision yesterday by approving eight Ether ETF 19b-4 filings. The filings were submitted by asset management firms looking to broaden their portfolio by offering Ethereum spot ETFs.

Also Read: SEC Approves All Spot Ethereum ETFs

The U.S. Securities and Exchange Commission approved ETH ETFs, which will give interested institutional investors access to Ethereum. The approval came after the regulator had previously given the green light to Bitcoin Exchange Traded Funds.

The BTC ETF approval marked an important milestone in the crypto industry. If this trend continues, more institutional investors will turn to the crypto industry, increasing both demand and liquidity.

How Soon Can ETH ETFs Start Trading

Short answer, not so soon. The landmark decision to approve the spot ETH ETF is just a stepping stone. The ETH ETF issuers will have to provide the S-1 filings and have them approved before being able to trade.

Crypto and ETF  analyst James Seyffart expects the ETH ETFs to start trading sooner than the Bitcoin ETFs took.

In a tweet on his X timeline, he shared, “…Going to add here. Typically, this process takes months. Like up to 5 months in some examples but Eric Balchunas (Bloomberg’s senior ETF analyst) and I think this will be somewhat accelerated. Bitcoin ETFs were at least 90 days. Will know more soon.”

Cryptopolitan reporting by Collins J. Okoth