Asset manager WisdomTree has requested to withdraw its Ethereum Trust application from the United States Securities and Exchange Commission (SEC), more than three years after initially submitting it.
Firm Withdraws Application
"The Registration Statement was originally filed on May 27, 2021. The Company confirms that no securities have been or will be issued or sold pursuant to the Registration Statement," the firm declared in a filing with the SEC on Sept. 6.
Background Information
WisdomTree acknowledged that it wouldn’t receive a refund for fees paid to the SEC for submitting its registration statement but requested that the amount be credited “for future use.” The application was initially filed in May 2021 for the Ethereum (ETH) ETF shares to be listed on the Chicago Board Options Exchange’s BZX Exchange.
Other Developments
On the same day, another asset manager, VanEck, announced it will be shuttering its futures-based Ether ETF, citing insufficient demand as spot cryptocurrency ETFs dominate market inflows. VanEck chose to close the fund due to factors "including performance, liquidity, assets under management, and investor interest." Reports indicate that shares of the VanEck Ethereum Strategy ETF (EFUT) will stop trading on Sept. 16 and fund assets will be liquidated and returned to investors on or around Sept. 23.
This is a developing story, and further information will be added as it becomes available.
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