- WisdomTree withdraws Ethereum Trust filing with SEC, indicating a strategic market shift.
- VanEck shutters Ethereum Futures ETF amid concerns over performance and investor interest.
- WisdomTree continues its crypto market presence with UK-approved Bitcoin and Ethereum ETPs.
Asset manager WisdomTree has withdrawn its Ethereum Trust S-1 registration filing from the U.S. Securities and Exchange Commission (SEC), over three years after its initial submission.
The withdrawal request, submitted on September 6, 2024, confirmed that no securities had been issued or sold under the registration statement. The original filing, made in May 2021, aimed to list Ethereum ETF shares on the Chicago Board Options Exchange’s BZX Exchange.
WisdomTree noted the increasing maturity of the Ethereum ecosystem, suggesting it was approaching the efficiency and scale of the Bitcoin market. In its withdrawal request, WisdomTree acknowledged it would not receive a refund for fees paid to the SEC. However, the firm asked for these fees to be credited for future use.
VanEck Closes Ethereum Futures ETF
Coinciding with WisdomTree’s withdrawal, asset manager VanEck announced the closure of its futures-based Ethereum ETF. The decision to shutter the VanEck Ethereum Strategy ETF was attributed to factors like performance, liquidity, assets under management, and investor interest.
VanEck’s statement, released on September 6, 2024, noted that trading of the ETF shares would cease on September 16, with the fund’s assets liquidated and returned to investors around September 23.
WisdomTree’s Continued Presence in Crypto
Despite withdrawing its ETH Trust filing, WisdomTree remains active in the crypto market. Earlier this year, the firm received approval from the UK’s Financial Conduct Authority to list its Physical Bitcoin and Ethereum exchange-traded products on the London Stock Exchange.
The company’s strategy in Europe features a range of crypto ETPs backed by physical assets that provide institutional investors with a cost-effective trajectory. Despite pulling back in the U.S., the company’s continued presence in the economy shows its commitment to the growth and development of crypto investment options.
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