Spot Ethereum ETFs in the US
The wait for spot Ethereum ETFs in the US might be nearing its end as several asset managers update their filings with the SEC. This comes after the SEC greenlighted several key filings in May.
VanEck, Grayscale, 21Shares, and Franklin Templeton all Submit Amendments
VanEck changed the name of its product to "The VanEck Ethereum Trust" and removed custody-related language.
Grayscale updated filings for its $28 billion Grayscale Ethereum Trust and a new "mini" version.
21Shares included similar disclosures on the SEC's stance.
Franklin Templeton also filed an amended registration statement.
No Staking for Grayscale's "Mini" ETF
Grayscale's "mini" ETF will not involve staking Ethereum tokens. Staking refers to delegating tokens to the network for rewards.
Approval Still Pending
The SEC still needs to approve S-1s from the eight asset managers.
Potential Launch Soon?
Bloomberg ETF analyst James Seyffart predicts a launch in the coming weeks, citing recent filings.
Ethereum Price Down Despite Approvals
Ethereum's price has fallen from its $4,000 peak in late May to below $3,000 currently.