The countdown is on: VanEck files key form for Ethereum ETF

The wait around Spot Ethereum ETFs is heating up as asset management giant VanEck files Form 8-A for its Spot Ether ETF. This major breakthrough brings the market closer to a highly anticipated investment product, likely to revolutionize accessibility to the second largest crypto.

One step closer to the reality of Spot Ethereum ETFs

Filing Form 8-A represents a key step in the approval process for Spot Ethereum ETFs. By submitting this essential form for trading on the stock exchange, VanEck demonstrates its determination to quickly launch its product.

Eric Balchunas, senior analyst at Bloomberg, puts into perspective this approach : ” VanEck filed his 8-A for the bitcoin spot exactly 7 days before launch. » This observation fuels speculation about an imminent launch.

Although the SEC already gave the green light to 8 Ethereum spot ETFs in May, it continues to catalyze the attention of market participants. Unlike the rollout of Bitcoin ETFs, there is still uncertainty over the exact start date of trading for Ethereum.

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Major implications for the crypto market

The imminent arrival of Spot Ethereum ETFs promises to shake up the entire crypto market. Previous announcements related to these products have regularly caused significant price fluctuations. In the current context, where Bitcoin is leading most altcoins into a downward spiral, the approval of Ethereum ETFs could reverse this trend and inject new momentum into the market.

Industry experts are cautiously optimistic about the potential impact on the price of Ether. The crypto has already seen an increase of 3.86% in 24 hours, reaching $3,401.91. This progress could accelerate if the SEC issues favorable opinions regarding S-1 approvals, thereby catalyzing investor interest.

The involvement of major players such as BlackRock in the Ethereum ETF race underscores the growing appeal of this market for traditional financial institutions. With Ethereum and Bitcoin futures ETFs already in circulation in the United States, the ecosystem seems ripe for this next stage of its evolution.

In short, VanEck’s filing marks a decisive turning point toward making Spot Ethereum ETFs a reality. If Bloomberg analysts' predictions come true, July 2 could usher in an innovative era for the crypto universe.

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