VanEck Files 8-A for SpaceEther ETF, Approval Timeline Revealed?
On June 25, investment manager VanEyck filed a Form 8-A for its Ethereum exchange-traded fund with the United States Securities and Exchange Commission(s) (bringing ETFs to one level of direct trading).
The revised filing said Eric Balchunas, senior Bloomberg ETF analyst, said in 2016: In the year On July 2, 2024, Ethereum has speculated that ETFs will be available for trading. Balchunas explained that his forecast was revised in VanEck's 8-A filing for the Bitcoin ETF seven days ago. The investment fund that started on the market.
The world awaits.
In early June, a top Bloomberg analyst predicted an early July launch window for ETFs due to a lack of significant feedback from SEC staff on ATF applicants' S-1 filings. The lack of comment shows that the regulator has not identified major issues in ETF offerings, which indicates that it has the potential to speed up the listing process.
Balchunas explained that the approval of Ethereum ETFs was unexpected and probably due to the political situation of the current administration.
Related: Ethereum Could Fall 30% After Launch of ETH ETFs – Crypto VC.
However, SEC Chairman Gary Gensler expressed the opposite view that listing Ethereum ETFs on stock exchanges could take months and may not happen until September 2024. Gensler has put the details of the Ethereum ETF on applicants and said the process is entirely up to them. Response times.
Political streaks
As Balchunas pointed out, the approval of the spot Ethereum ETF in the United States came as a surprise to many and represented a departure from the policies of the current administration. The 2024 election year has brought cryptocurrencies into the spotlight as presidential candidates across the board try to appeal to pro-crypto voters.
According to the Stand with Crypto Political Action Committee, nearly 52 million Americans hold crypto, making pro-crypto voters a visible voting bloc in US elections. The PAC has announced that it has reached a milestone by collecting 1 million signatures of attorneys from the public.
Taking advantage of the opportunities afforded to the blockchain industry in an election year, several initiatives have been taken by industry executives, including the recent announcement that the Gemini exchange will facilitate donations to pro-crypto candidates. The Bitcoin Selector Project, a Bitcoin education and awareness non-profit group.
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