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VanEck, ProShares Abruptly Withdraw Ether Futures ETF Proposals
Investment firms Van Eck and ProShares have both withdrawn their applications with the SEC for approval of ether futures ETFs, just two days after filing them.
Investment firms VanEck and ProShares have both withdrawn their applications with the SEC for approval of ether futures ETFs, just two days after filing them, according to an analyst.
STORY CONTINUES BELOW
- VanEck filed on Wednesday for an Ethereum-based exchange-traded-fund that would invest in ether futures contracts, Canada’s already-approved ether ETFs, private ether funds and exchange-traded products with exposure to ether.
- ProShares also filed on Wednesday for approval for an ETF based on ether futures called the ProShares Ether Strategy ETF.
- Senior ETF Analyst for Bloomberg Eric Balchunas speculated that the abrupt withdrawals could mean that the SEC spoke to both firms and told them they were unlikely to approve an ETF futures fund.
Now ProShares is withdrawing their Ether ETF filing. SEC may have had a conf call, Godfather-style. Ether, you’re out. pic.twitter.com/ZZ4b5zpx54
— Eric Balchunas (@EricBalchunas) August 20, 2021
- There are over a dozen bitcoin ETF applications currently before the SEC.
- In remarks earlier this month, SEC chair Gary Gensler suggested he would look more favorably upon bitcoin ETFs that only trade bitcoin futures contracts.
Nelson Wang
Nelson edits features and opinion stories and was previously CoinDesk’s U.S. News Editor for the East Coast. He has also been an editor at Unchained and DL News, and prior to working at CoinDesk, he was the technology stocks editor and consumer stocks editor at TheStreet. He has also held editing positions at Yahoo.com and Condé Nast Portfolio’s website, and was the content director for aMedia, an Asian American media company. Nelson grew up on Long Island, New York and went to Harvard College, earning a degree in Social Studies. He holds BTC, ETH and SOL above CoinDesk’s disclosure threshold of $1,000.
