ProShares and VanEck are searching for withdrawal of Ethereum ETF filings from the SEC

Advertisements

The asset managers at ProShares and VanEck decided to file for the withdrawal of their Ethereum ETF filings with the SEC on the same day. So let’s read more today in our latest Ethereum news.

It is still unclear why these two asset managers decided to withdraw their applications. Less than two days after filing separate filings with the US SEC, asset managers ProShares and VanEck decided not to pursue exchange-traded funds with greater exposure to ether. In Friday’s individual filings with the SEC, the legal representative of ProShares and VanEck said the companies have chosen not to proceed with the registration of the respective ETH-based exchange-traded fund. VanEck filed an application with the SEC to introduce an Ethereum ETF strategy, while Proshares filed an application on the same day.

Both products apparently aimed to gain exposure to Ether by investing in the futures contracts as well as the pooled investment vehicles and other exchange-traded products, but it’s not clear why both asset managers chose to add their Ether ETFs on the same days request and withdraw, but the two companies said they did not sell any securities in connection with the potential offering. SEC chairman Gary Gensler said he was open to accepting ETFs based on crypto futures rather than direct exposure. VanEck had the agency audited exchange-traded funds from BTC and ETH, but the company filed a separate prospectus for a strategy ETF for Bitcoin, which is a fund with exposure through BTC futures contracts.

proshares

As recently reported, investment firm VanEckk has filed for Futures BTC ETFs, but the company believes that a physical Bitcoin ETF is what investors really want. The investment firm filed for an exchange-traded BTC futures fund a week after SEC chairman Gary Gensler suggested the commission might be inclined to approve these products. The filing with the SEC yesterday in New York and VanEck is now hoping to expose investors to contracts that bet the price of BTC will rise and fall. Gabor Gurbacs, Director of Digital Assets Strategys at VanEck, said the company believes the futures ETF will have an easier route to listing. This is the second time the company has applied for a futures ETF, but it’s the company’s primary goal. A week ago, Gurbacs said that physical exposure to Bitcoin ETF is more efficient than the futures-based fund structures and the company is also one of the many companies awaiting SEC approval, unlike futures contracts.

DC Forecasts is a leader in many crypto news categories, strives for the highest journalistic standards and adheres to strict editorial guidelines. If you are interested in offering your expertise or contributing to our news website, please feel free to contact us at [email protected]


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Ethereum’s Hash Charge Data New ATH As PoS Migration Is Upcoming Ethereum

Ethereum’s Hash Charge Data New ATH As PoS Migration Is Upcoming

Ethereum's hash rate records a new ATH of 1.11 PH/s breaking the previous high...

By wpadminsonic164
Bitcoin was rejected for $ 52,000, Ethereum slipping under $ 4,000 Ethereum

Bitcoin was rejected for $ 52,000, Ethereum slipping under $ 4,000

Bitcoin was rejected at $ 52,000 and fell more than $ 3,000 in a...

By wpadminsonic164
$ 34 billion value of ETH is locked in Ethereum 2.0 deposit contracts Ethereum

$ 34 billion value of ETH is locked in Ethereum 2.0 deposit contracts

$ 34 billion worth of ETH is locked in Ethereum 2.0 deposit contracts hitting...

By wpadminsonic164
OpenEthereum Ended Support For Its Software With Merge Approaching Ethereum

OpenEthereum Ended Support For Its Software With Merge Approaching

OpenEthereum ended support for its software with the Merge approach in order to prepare...

By wpadminsonic164
Ethereum Formed A Bullish Pattern Near A Crucial Level: Analysis Ethereum

Ethereum Formed A Bullish Pattern Near A Crucial Level: Analysis

Ethereum formed a bullish pattern near a crucial level at the $1920 support against...

By wpadminsonic164
ETH Could Start Fresh Increase After Recent Dips: Analysis Ethereum

ETH Could Start Fresh Increase After Recent Dips: Analysis

ETH could start fresh increase after the many recent dips and after failing to...

By wpadminsonic164
ETH And BTC Keep Failing Near Their Key Hurdles Ethereum

ETH And BTC Keep Failing Near Their Key Hurdles

ETH and BTC keep failing near their key hurdles and Bitcoin price failed to...

By wpadminsonic164
Balenciaga Luxury Fashion House Accepts Payments In BTC And ETH Ethereum

Balenciaga Luxury Fashion House Accepts Payments In BTC And ETH

The Balenciaga Luxury Fashion House starts accepting payments in BTC and ETH making it...

By wpadminsonic164

Latest Posts

A Dogecoin Rally Would Be the Greatest Case State of affairs for Shiba Inu – InvestorPlace Dogecoin

A Dogecoin Rally Would Be the Greatest Case State of affairs for Shiba Inu – InvestorPlace

Source: Alfa Grandpa / Shutterstock.com Shiba Inu (SHIB USD) is not having a good...

By wpadminsonic164
Greater than Bitcoin: 7 New Altcoins Added To Nebeus Crypto-Backed Loans – Cryptonews Stellar

Greater than Bitcoin: 7 New Altcoins Added To Nebeus Crypto-Backed Loans – Cryptonews

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com...

By wpadminsonic164
LIVE: The Crypto Bear Market Will Finish Quickly! Enormous BTC Information! Videos

LIVE: The Crypto Bear Market Will Finish Quickly! Enormous BTC Information!

At the moment many traders are saying Crypto is in a bear market with...

By wpadminsonic164
NFT Infrastructure Supplier Rarify Will get $10 Million Funding in Sequence A Funding Spherical Led by Pantera Capital Bitcoin

NFT Infrastructure Supplier Rarify Will get $10 Million Funding in Sequence A Funding Spherical Led by Pantera Capital

Rarify, a startup that helps third parties include NFT elements in their tech platforms,...

By wpadminsonic164
Crypto alternate Binance says won’t settle for playing cards of sanctioned Russian banks – Moneycontrol Binance

Crypto alternate Binance says won’t settle for playing cards of sanctioned Russian banks – Moneycontrol

a,.special_wrapbx a{color:#333;font:400 11px Lato,sans-serif}.user_after_login a, .user_before_login a {color: #333333;font: 11px 'Lato',sans-serif;}.dropdown-menu{display:none;background-clip:border-box!important}.header_desktop .dropdown-menu>li{border-bottom:1px solid #e9e9e9}.header_desktop...

By wpadminsonic164
How Binance is committing to gender equality in Africa and past – Information Ghana Binance

How Binance is committing to gender equality in Africa and past – Information Ghana

Binance Committed To Gender Equality Technology has been predominantly a male-dominated sector; the lack...

By wpadminsonic164
Breaking: Cardano has plunged beneath $0.50, expanding the gamble for a half amendment – FXStreet Cardano

Breaking: Cardano has plunged beneath $0.50, expanding the gamble for a half amendment – FXStreet

Cardano dipped below the $0.50 support level over the past few hours. A decisive...

By wpadminsonic164
Martine McCutcheon flaunts her thinned down figure in spotted dress for sizzling snap – Daily Mail Polkadot

Martine McCutcheon flaunts her thinned down figure in spotted dress for sizzling snap – Daily Mail

Martine McCutcheon took to her Instagram Stories on Wednesday to show off her fantastic...

By wpadminsonic164