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Recently, asset management company WisdomTree decided to withdraw its application for Ethereum Trust S-1 from the SEC, after more than three years of waiting without receiving a positive response from the regulatory body.
In a document sent to the U.S. Securities and Exchange Commission (SEC) on September 6, the company announced:
“The Registration Statement was initially filed on May 27, 2021. The company asserts that no securities have been or will be issued or sold under this registration.”
WisdomTree acknowledged that they would not be receiving back the registration fees previously paid to the SEC but requested that those funds be recorded ‘for future use.’
The initial application was filed in May 2021 to seek SEC approval for listing the fund on the BZX Exchange. At that time, WisdomTree stated that the Ethereum market ‘had developed sufficiently to operate as effectively as the Bitcoin market.’
This announcement comes on the same day that asset management company VanEck announced it would be discontinuing its Ether futures-based ETF. The reason for this decision is said to be that the company now owns a spot Ethereum ETF fund.
The announcement stated that fund shareholders could sell their shares on the fund’s listing exchange until the market closes on September 16, 2024 (brokerage transaction fees may apply). After this date, the fund’s shares will no longer be traded on the exchange and will be delisted.
