YEREVAN (CoinChapter.com) — VanEck and 21Shares are advancing plans to checklist and commerce shares of a spot Ether (ETH) exchange-traded fund (ETF). Accordingly, on July 8, each corporations submitted amended S-1 registration statements to the U.S. Securities and Alternate Fee (SEC), marking a key step in direction of approval.

SEC Nears Ultimate Determination on VanEck and 21Shares Ethereum ETF Filings

Most significantly, of their July 8 filings, VanEck amended its Kind S-1 registration assertion to advance its bid for SEC approval of its Ethereum ETF.

Equally, 21Shares submitted an amended kind for its Core Ethereum ETF.

Critically, the amended filings are a part of the ultimate stage of the SEC’s approval course of. These paperwork state that the ETFs will likely be launched “as soon as practicable after the effective date” of the registration. Notably, no particular launch date is talked about, however the corporations are ready to maneuver shortly as soon as accredited.

Subsequently, on Might 23, the SEC accredited spot Ether ETF 19b-4 filings from eight asset managers, together with VanEck, 21Shares, and Bitwise. Furthermore, throughout a June Senate Banking Committee listening to, SEC Chair Gary Gensler famous that the fee would possibly approve the S-1 filings “sometime over the course of this summer,” with out offering an actual timeline.

Companies Push Ether ETF Filings

Initially, VanEck initially filed for a spot Ether ETF in January, following the SEC’s approval of spot Bitcoin ETF shares. Subsequently, the method confronted delays on account of an investigation into whether or not ETH ought to be labeled as a safety.

Furthermore, in June, Consensys’ authorized crew reported that the SEC had dropped the investigation, clearing a major hurdle.

Curiously, Bitwise, one other key participant, filed the same amended registration on July 3. And as such, extra corporations are anticipated to observe within the coming week.