ETH ETF Amendments Roll in Ahead of Monday Deadline, but Will the SEC Approve Them This Time?

Fresh Ethereum ETF amendments have started rolling in amid the SEC's Monday, July 8 deadline, with VanEck and 21 Shares leading the way.

Anticipation builds as crypto market participants await the launch of spot Ethereum ETFs, following the SEC's approval of a rule change in May 2024.

Fresh amendments are rolling in for Ethereum ETF applications ahead of the SEC's Monday, July 8 deadline. VanEck and 21 Shares have already submitted their amendments.

VanEck's recent filing, highlighted by Bloomberg ETF Analyst Eric Balchunas, reveals no significant changes as the firm had already disclosed its fees. Set at 0.20%, VanEck has since announced that it will be waiving this fee until an unspecified time in 2025.

In addition to fees, VanEck has disclosed a seed capital of about 2,929 ETH, valued at over $8.7 million. Seed capital is the initial investment in an ETF that enables it to begin trading upon launch. This investment is used to cover operational costs and can greatly impact a fund's success by contributing to its liquidity. For instance, BlackRock and Fidelity have disclosed seed capitals of $10 million and $4.7 million, respectively, for their Ethereum ETFs.

Meanwhile, 21 Shares has yet to disclose its fees but has previously announced a seed capital of about $340,000.

These amended filings come six days after the July 2 approval date anticipated by experts, leaving some to question whether applicants will finally receive the green light.

Balchunas urges onlookers to "stay tuned" in response to comments expressing doubts about the imminent launch of spot Ethereum ETFs, adding that it will be "an informative day and week." While maintaining his belief that Ethereum ETFs will soon be available for trading, the analyst puts the odds at 90%.

Balchunas is not the only expert still anticipating the imminent launch of Ethereum ETFs. Earlier in the day, ETF Store President Nate Geraci shared his thoughts in an X post, suggesting that the SEC could approve Ethereum ETFs within the next two weeks.

Collectively, these developments come as crypto market participants and enthusiasts eagerly await the launch of spot Ethereum ETFs, which are largely expected to infuse the market with billions of dollars in institutional capital. As a result, many anticipate a positive impact on Ethereum's price.

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