Spot Ether ETFs will come down to a 5-person vote: Gensler the decider?

May 20, 2024 Coin Telegraph

BlackRock’s spot Ethereum ETF plan is confirmed after Nasdaq filing

November 9, 2023 Coin Telegraph

19b-4 Form

Earlier in the day, BlackRock registered corporate entity “iShares Ethereum Trust” in Delaware, the first hint that a filing for a spot Ethereum ETF filing was imminent.

Blackrock’s plans for a spot Ethereum exchange-traded fund (ETF) has now been confirmed, per a 19b-4 form filing submitted to the United States Securities and Exhange Commission on Nov. 9.

Nasdaq filed the 19b-4 form to securities regulator on behalf of the $9 trillion asset management firm for a proposed ETF called the "iShares Ethereum Trust."

The move signals BlackRock’s intention to expand beyond Bitcoin with its ETF aspirations.

*NASDAQ's 19b-4 filing to the SEC for BlackRock's iShares Ethereum Trust. Source: NASDAQ*

Earlier on Nov. 9, it emerged that BlackRock registered corporate entity iShares Ethereum Trust in Delaware, the first hint that a spot Ethereum ETF filing could be imminent.

UPDATE: BlackRock #Ethereum ETF confirmed. They just submitted a 19b-4 filing with Nasdaq pic.twitter.com/pLhuhhK7jo
— James Seyffart (@JSeyff) November 9, 2023

BlackRock and other financial firms have expressed interest in cryptocurrency-backed ETFs over the last few months.

Bloomberg ETF analyst James Seyffart noted that there are at least five firms in the running to win the Securities and Exchange Commission’s approval for a spot Ethereum ETF.

Among them are VanEck, ARK 21Shares, Invesco, Grayscale and Hashdex.

There are 5 other live spot Eth filings that i'm aware of:@vaneck_us @ARKInvest/ @21Shares @hashdex @InvescoUS/ @galaxyhq
andddd @Grayscale's filing to convert $ETHE.

In no particular order.
— James Seyffart (@JSeyff) November 9, 2023

Ether (ETH) spiked 8.9% to $2080 on the news that BlackRock is moving forward its plans for an iShares Ethereum Trust and is up 10.1% over the last 24 hours, according to CoinGecko.

*ETH’s change in price over the last 24 hours. Source: CoinGecko*

The price surge has helped ETH claw back some market dominance against Bitcoin (BTC), which has outperformed ETH in recent months.

ETH’s market dominance now sits at 17%, up 1.3% percentage points prior to the news.

Magazine: Bitcoin ETF: Wall Street’s Path to Crypto

Ether the Ether: VanEck releases two ETF ads ahead of possible Monday launch

September 29, 2023 Coin Telegraph

ARK 21Shares

Once Ethereum futures ETF and spot Bitcoin ETF applications get approved, there will be a marketing war like we've never seen says, Bloomberg ETF analyst Eric Balchunas.

Investment manager VanEck has fired up the marketing engine for its “upcoming” Ethereum futures exchange-traded fund (ETF), which some analysts expect could be launched as early as Oct. 2.

On Sept. 28, VanEck released the two “Enter the Ether” themed TV commercials, revealing that its Ethereum Strategy ETF — tickered EFUT — is “coming soon.”

AI, AI, Uh Oh! Follow for updates on how to Enter the Ether. pic.twitter.com/wM69nVtbWC
— VanEck (@vaneck_us) September 28, 2023

The commercials came on the same day VanEck published a press statement about its upcoming EFUT, stating it will be listed on the Chicago Board Options Exchange and be managed by Greg Krezner, VanEck’s Head of Active Trading.

Bloomberg ETF analysts Eric Balchunas and James Seyffart believe the TV ads could hint that Ethereum futures ETFs are “happening sooner than expected.”

Seyffart expects VanEck’s new ETF to launch on Monday despite a Sept. 29 document stating it won’t take effect for another 60 days. “Our understanding is that the SEC is accelerating approvals for these things,” he said.

Quick correction: they actually won't be effective until Friday. Still, same result: Monday launch.
— Eric Balchunas (@EricBalchunas) September 28, 2023

Enter the Ether

The first of VanEck’s “Enter the Ether” advertisements is a rather short and quirky 15-second video featuring five actors looking at the camera with a deadpan expression and strange alien-sounding music in the background.

“Ethereum. Now in an ETF form. Coming soon,” says an actor.

“Oh and HODL or Fork Off,” says another actor, before the “Enter the Ether” message appears and the ad ends.

The second ad appears more straightforward, with a 30-second spot suggesting that a “shift” is coming soon and that Ethereum’s gravitational pull “will draw everyone in.”

When you’re ready, ENTER THE ETHER. The VanEck Ethereum Strategy ETF ($EFUT) is coming soon. Read our press release: https://t.co/4QPOVd5nB2 pic.twitter.com/vSF3HzMuvC
— VanEck (@vaneck_us) September 28, 2023

Balchunas expects more marketing efforts from ETF issuers as ETFs get approved, particularly when spot Bitcoin ETFs get the greenlight.

“It will be a marketing war like we've never seen since they all do same thing and launch on same day. Unprecedented.”

Meanwhile, financial services firm Valkyrie told Cointelegraph that it will also soon begin offering exposure to Ether through its existing Bitcoin Strategy ETF — making it one of the first firms to do so amid several pending applications with the U.S. Securities and Exchange Commission.

On Sept. 28, Seyffart said in an X post that it was “looking like the SEC is gonna let a bunch of Ethereum futures ETFs go next week potentially,” spurred by a potentially imminent U.S. government shutdown.

There are 15 Ether futures ETFs from nine issuers vying to launch.

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ARK 21Shares