21Shares Files Form 8A For Spot Ethereum ETF After VanEck

21Shares has submitted the Form 8-A for its Spot Ethereum ETF to the U.S. Securities and Exchange Commission (SEC). This move mirrors VanEck’s 8A filing earlier this week. Moreover, other Ether ETF issuers like BlackRock, Fidelity, and Franklin Templeton are also expected to follow suit.,The Form 8A is crucial because its approval allows the issuer to list and trade the product on an exchange. Hence, 21Shares has solidified its position among other Spot Ethereum ETF applicants with the filing made on Thursday, June 27.,Earlier in the month, ARK Invest announced it would not be moving forward with its Spot Ethereum ETF application at this time. However, despite this, ARK remains committed to finding ways to offer investors access to Ethereum’s underlying technology.,Furthermore, the firm continues to focus on its strengths in active management through a variety of investment products. These include disruptive innovation equity ETFs, digital asset futures ETFs, and the ARK Venture Fund. Meanwhile, other applicants for the Spot Ethereum ETF had been updating their S-1 filings. When Cathie Wood’s ARK Invest made the decision to withdraw its application and end its partnership with 21Shares, the latter decided to proceed independently with its Spot Ethereum ETF application.,VanEck, another player in this space, also recently filed a Form 8-A. In addition, VanEck has indicated in another filing that it would waive all fees until either 2025 or until the assets under management for their Ethereum ETF reach $1.5 billion, whichever comes first.,Also Read: Bitcoin ETF Inflows Continue Ahead US GDP Data, What’s Next For BTC Price?,Analysts are anticipating a potential launch date for the Ethereum ETFs around July 2. Whilst, companies like VanEck are already increasing the competitive stakes. Recently, the SEC requested applicants to submit amendments to their S-1 filings, resulting in eight registrations.,These filings came from BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Invesco. Moreover, SEC Chairman Gary Gensler has confirmed that the approval process for the Spot Ethereum ETF is progressing smoothly.,In addition, ETFstore President Nate Geraci shared a screenshot indicating that the most recent round of S-1 revisions was minimal. This suggests that the SEC may soon inform applicants of the trading commencement date. If this is true, it implies that Spot Ethereum ETF applicants may not need to make significant adjustments to their proposals.,Also, the SEC likely has only a few additional comments, if any. Overall, the decision now rests with the SEC. According to Geraci’s source, approval is expected within the next two to three weeks. This signals that the regulatory process is nearing its conclusion.,Also Read: BlackRock Bitcoin ETF IBIT Sees Zero Inflows for Fifth Day But Here’s the Twist,