Just two days ago, Fund Managers VanEck and ProShares filed an application with the U.S. Securities and Exchange Commission (SEC) to withdraw ethereum exchange traded funds (ETFs) to U.S. markets. However, the two companies announced on Friday that they had both decided to withdraw their active applications.
As with dozens of bitcoin ETFs awaiting approval, the proposed ETFs will be based on Ether futures contracts, along with other financial products and “merged” investment instruments that further affect Ethereum.
“The change is a reference to the Vaneck Ethereum Strategy ETF, a set of trusts,” he said. E. C.according to the amended representation of”no securities were sold due to the amendment and the trust has decided not to continue offering this series at this time.”
ProShares ‘ representation followed a similar pattern, stating that ProShares would “withdraw the change as he decided not to proceed with the recording process of a new series in connection with the change.”
While it remains unclear what caused the two companies to dramatically end their efforts, many suggest talks with regulators such as the Sec are ongoing. Since the committee has further delayed its assessment of bitcoin ETFs, it is certainly possible that companies will be informed that they are unlikely to receive approval soon.
2 largest by market capitalization. the cryptocurrency Ethereum continues to attract both crypto enthusiasts and investors. On a broader corporate scale, however, the ether is still in the shadow of bitcoin.
With a market capitalization of $ 385 billion and a yield of 340% since the start of the year, Ethereum continues to take steps to overtake its older brother Bitcoin. On Wall Street, however, Bitcoin still seems to rule undivided. Source: ETHUSD-on Tradingview.com
According to CoinGecko, there are more than 27 registered bitcoin companies with a total value of $ 9.7 billion. In contrast, Ethereum has 3 full C’s
