VanEck officially submits S1 for Ethereum Spot ETF

Coin World Report:
Asset management company VanEck, with $89.5 billion in assets, has officially filed an S-1 application for its Ethereum ETF. The company submitted the application to the U.S. Securities and Exchange Commission (SEC) on Monday, which is a crucial part of the ongoing approval process for the ETH ETF.
According to Bloomberg analyst Erich Balchunas, after taking this action, the issuer should submit several similar documents today. The only exception is Bitwise, which submitted an S-1 last week. This development has led many experts to predict that Ethereum investment products will go live within the next two weeks.
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VanEck files S-1 for Ethereum ETF
With the impending arrival of an Ethereum ETF, the cryptocurrency market is heading towards a milestone moment. The approved ETH investment offering earlier this year will be the second cryptocurrency-based ETF in the United States. Now, a crucial development may expedite the approval of this product.
Asset management company VanEck has submitted an S-1 for its Ethereum ETF to the U.S. Securities and Exchange Commission. As Balchunas from Bloomberg pointed out, this application “throws the ball back in the court of the SEC.” The product was previously expected to launch on July 4th but will now be extended to this week.
Read also: Approval of Ethereum ETF: A Milestone in the Journey of Cryptocurrency
Nate Geraci, co-founder of ETF Research, predicted the upcoming arrival on X (formerly known as Twitter). Specifically, he predicted that the “issuer will go live in the next week or two.” Furthermore, this development may open the door for more cryptocurrency ETFs to be launched in the coming year.
VanEck has waived the initial fee for its Ethereum ETF. The company also announced that it will charge a fee of 0.2% if the total assets exceed $1.5 billion. In contrast, earlier this month, the company predicted that ETH could reach $22,000 by 2030.