VanEck and ProShares Back Out of ETH Futures ETF Filings

2021-8-21 17:02

Asset management companies VanEck and ProShares have withdrawn their filings for Ether (ETH) futures exchange traded funds (ETFs).

They both amended their respective applications with the U.S. Securities and Exchange Commission (SEC) only days after the initial filings. Both firms applied to launch ETH-based ETFs on August 18. However, by August 20, the companies requested to back out. At time of press, neither firm had given a reason as to their withdrawal.

In both amended applications, the companies stipulated that no securities had been sold in connection with them. VanEck’s statement also said that “the Trust has determined not to proceed with the offering of this series at this time.”

In VanEck’s case, the ETH ETF, officially named the VanEck Ethereum Strategy ETF, was not their only fund currently before the SEC. This year, they have filed with the regulator for bitcoin (BTC)- and ETH-centered ETFs. Also, back in June, the company submitted a BTC futures strategy prospectus to the SEC, so as to approve a BTC strategy fund. In all cases, the SEC has yet to issue approval, with deadlines continually postponed.

ETH no longer a viable option?

VanEck and ProShares’ decisions have provoked comment about ETH’s viability as an ETF option. Eric Balchunas, Senior ETF Analyst at Bloomberg, took to Twitter to remark at VanEck’s withdrawal, saying:

“Looks like VanEck withdrawing their Ether Futures ETF that they filed only two days ago. Guessing the. [sic] SEC called them up and was like GTFOH (in so many words).”

After ProShares’ own withdrawal came to light, Balchunas followed up, tweeting:

“Now ProShares is withdrawing their Ether ETF filing. SEC may have had a conf [sic] call, Godfather-style. Ether, you’re out.”

As long we ONLY see the Ether ones ejected, I’d say that’s decent news for bitcoin ETF,” the analyst went on. “Sort of like them saying, look, let’s baby step this, only bitcoin rn [sic].”

There is no shortage of BTC-related ETFs before the SEC at the moment. More than a dozen, in fact, though the regulator is yet to approve a single one. SEC Chair Gary Gensler previously stated he would look forward to ETF filings and SEC staff’s reviews thereof. “…Particularly if those [filings] are limited to these CME-traded Bitcoin futures.” 

Meanwhile, another asset management firm, Neuberger Berman, side-lined ETH futures in favor of BTC for investment options in its latest regulatory filing. Reports from August 21 revealed that the company had permitted its commodities mutual fund to invest up to 5% of its assets in BTC futures and other ETFs based in Canada. The filing replaced another, made on August 11, which listed ETH derivatives among the permissible investment strategies. These derivatives were not present in the amended filing.

The post VanEck and ProShares Back Out of ETH Futures ETF Filings appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Filecoin [Futures] (FIL) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $5.1636
Капитализация $0 Rank 99999
Цена в час новости $ 74.62 (-100%)

futures vaneck eth filings proshares out etf

futures vaneck → Результатов: 41


VanEck Files for a “Bitcoin Strategy ETF” After SEC Chair’s Positive Signal

VanEck has filed for a “Bitcoin Strategy ETF” with the US Securities and Exchange Commission (SEC), which will hold bitcoin futures and other bitcoin funds. In 2017, VanEck unsuccessfully attempted to list such a fund with the SEC, but now that SEC Chair Gary Gensler has signaled that he is open to an exchange-traded fund […] The post VanEck Files for a “Bitcoin Strategy ETF” After SEC Chair’s Positive Signal first appeared on BitcoinExchangeGuide.

2021-8-10 18:41


Nasdaq and VanEck plan to launch “Crypto 2.0” futures contracts

Nasdaq, the second-largest stock exchange in the world is partnering with investment management firm VanEck to bring a host of new cryptocurrency financial products to market, Coindesk reported. That partnership was officially unveiled during CoinDesk’s Consensus: Invest conference, when Gabor Gurbacs – VanEck’s director of digital asset strategy – announced the move to “bring a […]

2018-11-28 12:39


Фото:

The SEC Is Delaying Another Bitcoin ETF Decision

The United States Securities and Exchange Commission (SEC) is in no hurry to review the pile of Bitcoin ETF filings it has been accumulating over the past year. Not three weeks since postponing its decision on five other Bitcoin ETFs, the SEC has indicated in a public statement that it will be delaying its decision to approve or reject SolidX Bitcoin Shares until late September.

2018-8-8 17:15


Фото:

Exchanges Round-Up: CME Volume Doubles Q2, Lawyer Predicts SEC Delays ETF Until March

In recent news pertaining to cryptocurrency exchanges, Chicago Mercantile Exchange (CME) has revealed that trading volume on its bitcoin futures markets nearly doubled during Q2; lawyer Jake Chervinsky has predicted that the United States Securities and Exchange Commission (SEC) may postpone its determinations regarding Vaneck’s proposed bitcoin exchange-traded fund (ETF) until March 2019; and Bitmex […] The post Exchanges Round-Up: CME Volume Doubles Q2, Lawyer Predicts SEC Delays ETF Until March appeared first on Bitcoin News.

2018-7-27 06:45


Can Bitcoin become Digital Gold ?

As Bitcoin has shown life the last several days and rose above $7000, the term “digital gold” has been repeated many times in journalistic publications, tweets, crypto forums and even on TV.   Gabor Gurbacs, director of digital asset strategies at VanEck/MVIS appeared on CNBC’s “Futures Now” and opined on just how big Bitcoin could […] The post Can Bitcoin become Digital Gold ? appeared first on ZyCrypto.

2018-7-21 22:39