Asset manager VanEck was quick to celebrate its newly-approved spot Ether (ETH) exchange-traded fund (ETF) with an arty 37-second advertisement coaxing viewers to “Enter the ether.”
VanEck posted its ad spot to X on May 23, roughly 30 minutes after the Securities and Exchange Commission approved its 19b-4 filing for a spot Ether ETF alongside BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise.
The SEC still needs to greenlight each ETF’s S-1 filing to begin trading, which analysts say could take as long as a few months.
“Could it be the fuel to a less centralized and open-source economy?” VanEck’s ad queries. “What could Ethereum be? That’s up to you and me.”
enter the ether pic.twitter.com/YXgKQFP5Nr
— VanEck (@vaneck_us) May 23, 2024
The ad had over 1,000 reposts on X and was viewed 170,000 times at the time of writing.
The online reaction to the ad was largely positive. Yield Guild Games operating chief Colin Goltra said the “commercial actually goes hard af [as fuck].”
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“Today boomers discover smart contracts for the first time [and] realize crypto can be more than digital gold,” wrote the anonymous co-founder of DeGods private club X+ “Mav”
Jito Foundation contributor Andrew Thurman, meanwhile, wrote that Ether ETF’s advertises “to your bar buddy who took too many mushrooms and lived in a yurt for a year.”
VanEck released a similar string of ads in late September for its Ethereum Strategy ETF — tickered EFUT — an Ethereum futures ETF which launched a few days later on Oct. 2.
Currently, other asset managers who received 19b-4 approvals have not released ads, with only Grayscale and Bitwise acknowledging the approvals in X posts.
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