VanEck and ProShares Withdrew Their Ethereum ETF Requests From the SEC
On August 20, two companies, VanEck and ProShares,applied for the withdrawal of their Ethereum ETF filings to the US SEC. This happened just two days after they directed the requests to the Commission.
Bloomberg’s head analyst, Eric Balchunas, supposes that this sudden change can be explained by the skeptical treatment of the Commission towards such funds. He also jokingly supposes that SEC may have had a conference in Godfather style where they decided that Ether should be out.
However, Balchunas believes that it may be actually good news for Bitcoin ETFs that their rivals were rejected. He hopes that the SEC did it to let Bitcoin go first. Time will show if he is right, and there is enough time because the Commission delayed its decision again.