Josh O"Sullivan12 hours agoVanEck Ethereum ETF receives SEC green lightAfter three years of filings, the VanEck Ethereum ETF has received SEC approval, offering investors a regulated way to gain exposure to Ether in the US.3551 Total views20 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe United States Securities Exchange and Securities Commission (SEC) has approved the VanEck Ethereum exchange-traded fund (ETF), marking a huge milestone for the market.
The Notice of Effectiveness of the ETF was filed on July 22 and aims to provide investors with a regulated means of gaining exposure to Ether (ETH) in the US.
The approval follows a series of filing and amendments submitted to the SEC, reflecting a long period of regulatory scrutiny.
Related:Grayscale’s spot Ether ETFs launch on New York Stock ExchangeThe approval and key filings
VanEck began pushing for a spot Ether ETF with its initial registration filing on May 7, 2021, with prolonged efforts and delays to meet the regulatory standards required for its approval.
Essential filings in the lead-up to the approval include the Prospectus under Rule 424(b)(3) and multiple amendments to the Form S-1 as the firm adjusted to SEC compliance requirements.
The SEC requires S-1s for companies planning their first public securities offering, while the Rule 424(b)(3) prospectus provides final offering details after the S-1 is effective.Source: VanEck
Related:Grayscale transfers $1B in ETH to Coinbase ahead of Ether ETF launchS-1 amendments
In July 8 filings, VanEck amended its S-1 registration with the SEC to secure the listing and trading of spot ETF shares.
As the last stage in the SEC ETF approval process, the crypto investments firm 21Shares also made amendments to receive final approval from the SEC.
Both firms’ filings did not include launch dates for US exchanges but indicated that the Ethereum ETFs would be launched as soon as practicably possible “after the effective date.”
Related:Ethereum price will be ‘sensitive’ to ETF inflows in the coming days — KaikoGrayscale spot Ether ETF launches on NYSE
Amid the SEC’s Ether ETF approvals, digital asset manager Grayscale confirmed that its two spot Ether ETFs officially began trading on July 23 on the NYSE Arca.
The launch of the Grayscale ETFs follows the SEC’s decision to sign off on the final approval on July 22, allowing several issuers to launch their products for trading.
On July 22, Grayscale transferred over $1 billion worth of ETH to Coinbase in preparation for the launch of its ETFs, moving 292,263 ETH, according to its Ethereum Mini Trust July 18 filing.
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