Main Points Related to Bitcoin, Web3, Ethereum, and Cryptocurrency:
- VanEck and Bitwise filed amended prospectuses for spot Ethereum ETFs with the SEC.
- SEC approval is awaited for spot Ethereum ETFs to debut next week.
- Speculations suggest potential price impact of spot Ethereum ETFs on the market.
VanEck Files Amended Prospectus for Spot Ethereum ETF Approval:
Wealth manager VanEck has submitted an updated S-1 registration statement to the SEC for an Ethereum ETF tracking spot prices. The filing was made before the regulatory deadline for amended documents.
SEC Approval Expected for Debut of Spot Ethereum ETFs:
For spot Ethereum ETFs to commence trading, SEC approval for rule changes in 19b-4 forms and S-1s is required. Approval is anticipated next week, following a two-step process that began with the approval of 19b-4 forms in May.
Market Speculations Surrounding Spot Ethereum ETF Launch:
Reports indicate that trading of spot Ethereum ETFs could start next week, potentially influencing Ethereum’s value. Analysts are divided on the impact, with some foreseeing institutional demand boosting prices and others expressing concerns about the effect on the DeFi market.
