Bitcoin ETF

Spot

<ul>
 <li>21Shares follows VanEck in filing the crucial Form 8-A for its spot ETH ETF.&nbsp;</li>
 <li>The Spot Ethereum ETF announcements witnessed a spur in activity in the past weeks.</li>
</ul>
Asset manager 21Shares filed the 8-A form with the SEC for its spot Ethereum ETFs, becoming the second firm in the market following VanEck.The past few days have witnessed an increased scrutiny on altcoin exchange-traded funds with multiple firms making crucial announcements.&nbsp;
Initially, 21Shares partnered with Cathie Wood-led ARK Invest to launch the spot Ethereum ETF. The partnership had existed when the SEC approved its ETF listings. However, at the beginning of June, ARK Invest <a href="https://thenewscrypto.com/ark-invest-ceo-cathie-wood-backs-trump-citing-economic-achievements/" target="_blank" rel="noopener noreferrer nofollow">stepped</a> out of the collaboration and the filings were amended. The two firms still sustain their partnership in spot Bitcoin ETFs.&nbsp;
Notably, the 8-A filings with the SEC will allow exchanges to list and trade exchange-traded funds (ETFs). Since the spot ETH ETFs still await trading, the issuers’ steps toward <a href="https://www.sec.gov/Archives/edgar/data/1992508/000121390024056409/ea020850201-8a12b_21shares.htm" target="_blank" rel="noopener noreferrer nofollow">filings</a> have led to a positive sentiment in the market. 21Shares, whose position seemed uncertain after ARK Invest’s partnership termination, has reaffirmed investors on its spot Ethereum ETF.
<h3 class="wp-block-heading" id="h-what-does-the-spot-eth-etf-landscape-look-like-nbsp">What Does the Spot ETH ETF Landscape Look Like?&nbsp;</h3>
Amidst multiple announcements, Ethereum’s spot ETF sector has shown a spur in activity. Two of the eight approved issuers, Franklin Templeton and VanEck, began announcing their fee rates over the past few weeks.&nbsp;
Notably, VanEck caught market attention by <a href="https://thenewscrypto.com/vaneck-aims-to-dominate-the-spot-eth-etf-battle-by-waiving-initial-fees/" target="_blank" rel="noopener noreferrer nofollow">announcing</a> an ‘initial no fee’ period. It stated that it would charge a 0.20% fee post the period. Meanwhile, leading ETF issuer, BlackRock,has not indicated its fee rate and is expected to in the coming weeks.&nbsp;
Furthermore, the SEC chair Gary Gensler stated earlier this week that the approval process of spot ETH ETFs is going smoothly. Meanwhile, despite increasing attention, Ethereum’s <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">price</a> has failed to show significant surges over the past month. At the time of writing, the token was trading at $3441.&nbsp;
Moreover, 21Shares has announced the initiation of multiple advancements in the past months. After the spot Bitcoin ETF approval, 21Shares announced an integration with Chainlink to increase the ARKB ETF’s transparency.&nbsp;
Highlighted Crypto News Today:&nbsp;
<a href="https://thenewscrypto.com/us-spot-bitcoin-etfs-record-11-80-million-net-inflows-on-thursday/" target="_blank" rel="noopener noreferrer nofollow">US Spot Bitcoin ETFs Record $11.80 Million Net Inflows on Thursday</a>

21Shares Confirms its Spot ETH ETF Stance Through Form 8-A Filings

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