VanEck has just taken a major step towards approving a spot Ethereum ETF, which is a potential breakthrough for the cryptocurrency industry. It has just been reported that a major portfolio manager has filed Form 8-A, which is an important procedural step in the ETF approval process.
VanEck just took a major step toward approving an Ethereum spot ETF, marking a potential breakthrough for the crypto industry. So, he just learned that a major portfolio manager has filed Form 8-A, which is an important procedural step in the ETF approval process.
This action could also signal the imminent approval of an exchange-traded fund for the leading altcoin, when a similar action by VanEck in the past preceded the approval of Bitcoin ETFs by exactly seven days.
Gamza KhanzadaevForm 8-A is an SEC filing used by a company to register a class of securities for trading on a public exchange. When a company files such a form, it indicates its intention to list and trade its securities on platforms such as the New York Stock Exchange or Nasdaq.
This development could indicate that VanEck has gotten the green light to file an application with the regulator. Bloomberg ETF expert Eric Balchunas writes that the move is a “good sign” and that approval of Ethereum spot ETFs could come in seven days before July 2.
Gamza KhanzadaevThe pre-Independence Day date had already been announced for the altcoin ETF approval. Balchunas and other industry experts, including Nate Geraci, have speculated that the SEC could give its approval to ETH ETFs very soon, before that holiday. VanEck’s new development seems to fit perfectly into that scenario.
