• The U.S. Securities and Exchange Commission (SEC) has received a total of 12 Ethereum (ETH) exchange-traded fund (ETF) applications as of August 3rd.
• Asset management firms including Bitwise, Volatility Shares, Grayscale, Proshares have submitted new applications for the ETFs.
• James Seyffart from Bloomberg Intelligence reported that ProShares had filed four Ethereum ETF applications with the SEC.
An Overview of Ethereum ETF Applications
The U.S. Securities and Exchange Commission (SEC) has been flooded with twelve Ethereum Exchange Traded Fund (ETF) applications within the last week alone. This flurry of activity was initiated by Volatility Shares on July 28th when they submitted their application, followed by a number of other asset managers such as Bitwise, Grayscale, and Proshares who have all made multiple filings since then.
Bitwise recently announced new applications for equal-weight and market-weight versions of its Bitcoin and ETH futures ETFs. Information on the regulator’s website shows that Bitwise has made three different applications so far.
James Seyffart from Bloomberg Intelligence reported that ProShares had filed four different Ethereum ETF applications with the SEC in total. These filings come amidst speculations that asset managers are gambling on their chances of approval by submitting multiple ETF applications at once in hopes that at least one will be accepted in due course.
Other Recent Submissions
In addition to these submissions from major asset managers, there have also been others from smaller players like Crescent Crypto Index Services LLC who applied for an Ether index-based ETF on July 29th which was withdrawn two days later due to certain changes in their product structure according to a Form 8-K filing with the SEC . Similarly, VanEck SolidX Bitcoin Trust also withdrew its plans for an Ether based exchange-traded product earlier this month stating that it was no longer pursuing those plans due to market conditions at present time .
Considering the recent surge in Ethereum related ETFs being submitted to the SEC , we can expect more news on this front in the near future . With more filings coming through every day , it remains unclear which ones will be approved or denied but what is certain is that asset managers are clearly showing increased interest in these products .