Ethereum ETFs: VanEck, BlackRock file their S-1’s and that means…

price has been clinging on to the $3,500-level for quite some time now. However, recent progress in the ETF space could lend the world’s largest altcoin some much-needed respite on the charts.Inching closer to launch, eight applicants for spot Ethereum ETFs, including major players like Bitwise, Fidelity, VanEck, and BlackRock, filed updated versions of their registration statements with the SEC ,according to Bloomberg analyst Eric Balchunas.

Franklin and VanEck have already disclosed their expense ratios, with Franklin setting its fee at 0.19% last month and VanEck following suit on Friday at 0.2%. BlackRock, on the other hand, revealed a $10 million seed investment in its proposed ETF. The SEC will now review the updated filings and provide any feedback to the issuers before a final decision is made. This development is a positive sign for investors who have been eagerly awaiting the launch of other spot Ethereum ETFs, potentially opening up easier access to Ethereum for traditional investment portfolios.Balchunas also offered a tentative date of 2 July as a target for the launch of these Ethereum ETFs.

Here, it’s important to note that the SEC still needs to review the filings and potentially request changes before final approval is granted. However, Balchunas’ prediction suggests a potential launch window in the coming weeks, if the SEC’s review process progresses smoothly.At press time, ETH was trading at $3,502.74, with its price down by 0.29% in the last 24 hours. Despite the decline in price, however, its network growth surged significantly over the last few days.

Coupled with the hike in network growth, the velocity of ETH also surged. This implied that the frequency with which ETH was trading at had risen significantly over the last few days.Himalay is a full-time journalist at AMBCrypto. A Computer Science graduate, Himalay writes about crypto with a special focus on the latest coin-based updates. He is a fan of gonzo journalism, transgressive fiction, heavy metal, and Manchester United.Subscribe to get it daily in your inbox.

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