- 21 Shares and ARK Invest joined forces to file an S-1 to the SEC on September 6
- Volatility Shares was the first to file an Ether-based ETF application
- Bloomberg estimates the first Ethereum ETF to go live in May next year
The Chicago Board Options Exchange (CBOE) filed two 19b-4 applications for a decision by the US Securities and Exchange Commission on September 6, which marked the beginning of the race for the first spot Ethereum exchange-traded fund (ETF) in the US, Cointelegraph reported.
CBOE requested that VanEck Ethereum ETF and ARK 21Shares Ethereum ETF investment products become available on its BZX Exchange. 21 Shares and ARK Invest joined forces to file an S-1 to the regulator on September 6.
A flurry of applications
As Bankless Times reported early August, the regulator has been flooded with applications for Ether futures ETFs, with 11 Ether-based applications submitted in less than a week. ProShares filed one on August 3 – its fourth such filing in the last few days.
Volatility Shares was the first to file an Ether-based ETF application, which it did on July 28. It was followed by Van Eck, Bitwise Asset Management, Grayscale Investments, and Roundhill Financial a few days later.
Countdown for a decision “in motion”
According to a Bloomberg ETF analyst quoted by Cointelegraph, the latest filings are different from the previously submitted ones, signifying the beginning of a countdown for a decision by the regulator. He estimates the first Ethereum ETF to go live in May next year.
The securities regulator is obliged to review the 19b-4 filings and issue a decision. It can postpone this decision, however, just like it has for spot Bitcoin ETFs.
Insiders anticipate more spot Ethereum ETF filings in the days to come. At the present time BlackRock, Grayscale Investments, and a number of other companies are waiting for their applications for spot Bitcoin ETFs to be approved. The SEC indicated it was prepared to approve Ethereum futures investment products on August 17.
Contributors
