The Latest Breaking News from VanEck

VanEck is setting a high bar for the spot Ethereum ETF circle as it revealed in a new filing that it will initially waive management fees when its ETF launches, providing an attractive offering to investors seeking profits from the much-awaited ETFs.

The Australian Securities Exchange (ASX) has just seen the listing of its first bitcoin spot exchange-traded fund – “ETF” for short.

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The SEC late Thursday paved the way for ethereum ETFs to launch later this year. But the ethereum price and bitcoin slid early Friday.

"It's one of the biggest regulatory 180s in recent SEC history," VanEck told Fortune.

A co-founder of the Ethereum network, and the founder of the company that revealed how the SEC has deemed Ether a security since March last year, said the approval of spot ETH ETFs has become a matter of political interest.

Several spot Ether ETF applicants have submitted updated 19b-4 filings, suggesting that the SEC has finally provided comments on the applications and triggering a wave of optimism in the crypto industry for the funds that, unlike Bitcoin, have had a more difficult road toward approval.

The SEC appears to have made a sudden change of heart as it reportedly informed exchanges that it was leaning toward approving the much-anticipated spot Ether ETFs.

Would-be issuers of Ethereum ETFs are scrambling to meet the SEC's last-minute requests ahead of Thursday's deadline.