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Mutual fund manager VanEck has filed a Form 8-A with the U.S. Securities and Exchange Commission (SEC), making progress toward a spot Ethereum exchange-traded fund (ETF).
VanEck filed Form 8-A for its Ethereum product on Tuesday morning. This application refers to the registration that allows issuers to trade on an exchange after the product is approved. This move is an important step by VanEck towards a spot Ethereum ETF.
This step takes a few days before firms competing for that product update their registration statements, called S-1 (or S-3, in Grayscale’s case), just as Grayscale filed an S-3 to convert its Ethereum Trust into an ETF. came later.
The SEC approved 19b-4 forms for eight Ethereum ETFs last month, but the regulator must allow registration statements to become active for trading to begin. Previously, firms competing for a spot Bitcoin ETF had filed Form 8-A about a week before receiving approval from the SEC.
Bloomberg senior ETF analyst Eric Balchunas called VanEck’s Form 8-A filing “part of the process.” “They filed the 8-A application for Spot Bitcoin exactly 7 days before launch,” Balchunas said in a post on X on Tuesday. “This bodes well for our forecast for July 2 (now 7 days away). But again, anything is possible. We’ll be hearing more information soon for sure.”
This move by VanEck is an important milestone towards launching a spot Ethereum ETF. This development could increase the acceptance of cryptocurrencies among financial markets and investors and create new opportunities for investors. Pending final approval from the SEC, such steps are being closely watched by market participants.
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