VanEck launches Ethereum ETF minutes after SEC approval
VanEck wasted no time in celebrating his approval. spot Ether exchange-traded fund (ETF) released a 37-second ad encouraging viewers to “Get into Ethereum.” The ad appeared on social media on May 23, shortly after the Securities and Exchange Commission (SEC) approved a 19b-4 application for the spot Ether ETF.
VanEck’s Ethereum ETF Ad Sparked Positive Reactions
SEC approval VanEckIts application places it alongside other major asset managers such as BlackRock, Fidelity, Grayscale. Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise. But trading will begin only after the SEC greenlights each ETF’s S-1 filing, a process that could take several months.
VanEck’s ad raises thought-provoking questions; Ethereum It could foster a less centralized and open-source economy. The ad’s engaging content resonated with the target audience and garnered over 1,000 rebroadcasts and 170,000 views.
The online community’s reaction to the ad was largely positive; Many people praised the ad’s creativity and message. Colin Goltra, chief operating officer of yield guild games, praised the ad and called it effective.
In contrast, some expressed more humorous comments. X+, the anonymous co-founder of DeGods private club, known as “Mav,” humorously suggested that the ad refers to a moment when traditional investors were introduced to the possibilities of smart contracts.
Andrew Thurman, a contributor to the Jito Foundation, humorously likened the ad to something that would appeal to a friend who had a transformative experience living in a dorm after consuming hallucinogenic mushrooms.
SEC Approval Solidifies Ethereum’s Commodity Status
This isn’t the first time VanEck has used ads to promote its Ethereum-related products. In late September, the company released a series of ads for the Ethereum Strategy ETF (EFUT), an Ethereum futures ETF that launched shortly thereafter.
While VanEck has been proactive in promoting its Ethereum-related products, other asset managers with 19b-4 approval have remained relatively quiet. Grayscale and Bitsel She is among the few people who have acknowledged their endorsements in social media posts.
Despite the excitement surrounding the approval of Ethereum ETFs, some industry experts have expressed concerns. Coinbase Chief Legal Officer (CLO) Paul Grewal He emphasized that the SEC’s decision confirms Ethereum’s commodity status. Grewal’s thoughts were echoed by others, highlighting that Ethereum’s decentralized nature is a key factor in its classification as a commodity.
So read: Spot Ethereum ETF: Is Current Silence an Early Sign of Rejection?
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Maxwell is a crypto-economic analyst and Blockchain enthusiast who is passionate about helping people understand the potential of decentralized technology. I write extensively on topics like blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its effects on economic freedom and social well-being.
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