In Brief:-
- VanEck and Proshares filed for Ethereum Futures ETFs this week
- It’s not clear why both firms choose a withdrawal process.
Both the firms Vaneck and ProShares have decided to withdraw their filing proposals for Ethereum Futures ETFs with the U.S. SEC.
Separate Friday filings with SEC, both Investment firms decided not to proceed further with their proposal of ETH ETF. VanEck filed on Wednesday to launch an Ethereum Strategy ETF with the SEC, while ProShares also applied on the same day.
The SEC has yet to grant any approval to any crypto ETF. The previous month, SEC Chairman Gary Gensler indicated that he is more interested in ETFs linked to Bitcoin Futures. There are dozens of files yet waiting for approval by SEC.
It’s not clear why both firms choose to apply for withdrawing of same applications on the same days. According to both files of firm text that they had not sold any securities connected to the potential offering.
Also Read: VanEck Files Application For Ethereum Strategy ETF With SEC
“SEC may have had a conference call, Godfather-style. Ether, you’re out,” tweeted Eric Balchunas, Senior ETF Analyst at Bloomberg.
Proshares proposed a bitcoin futures ETF earlier this month. Meanwhile, VanEck is still awaiting an answer from the SEC on its proposal.
