Top Asset Manager Withdraws Application for Spot Ethereum ETF

Asset manager WisdomTree has asked the U.S. Securities and Exchange Commission (SEC) to withdraw its S-1 application for a spot Ethereum exchange-traded fund (ETF), more than three years after it was originally filed.

In the application, filed on September 6, WisdomTree announced:

The registration document was originally filed on May 27, 2021. The company confirms that no securities have been or will be issued or sold pursuant to this application.

The Company also confirmed that it will not be reimbursed for its fees to the SEC, but requested that the amount be credited for future use.

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WisdomTree’s application, filed in May 2021, sought to list shares of the Ethereum ETF on the BZX Chicago Board Options Exchange. At the time, WisdomTree noted that the ETN market was evolving to operate with similar efficiency and scale as the Bitcoin market.

This announcement coincides with VanEck’s decision to close its futures spot Ethereum ETF (EFUT) due to weak demand as crypto ETFs attract more investment. In its Sept. 6 statement, VanEck cited factors such as performance, liquidity, assets under management and investor interest.

EFUT trading will reportedly cease on September 16, with assets liquidated and returned to investors around September 23.

Alexander Stefanov