WisdomTree, a prominent asset manager, has requested to withdraw its S-1 registration filing for a spot Ether exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). This move comes more than three years after the initial submission.
The filing, initially submitted on May 27, 2021, aimed to list Ethereum ETF shares on the Chicago Board Options Exchange’s BZX Exchange. WisdomTree confirmed that no securities have been or will be issued pursuant to the Registration Statement and requested that the fees paid to the SEC be applied as a credit for future use.
The S-1 registration was part of WisdomTree's efforts to enter the Ethereum ETF market, which it believed was maturing similarly to the Bitcoin market. However, the firm acknowledged that it would not receive a refund for the submitted fees but sought to apply them towards future uses.
On the same day, asset manager VanEck also announced the closure of its futures-based Ether ETF due to insufficient demand and a shift towards spot cryptocurrency ETFs. VanEck's Ethereum Strategy ETF will cease trading on September 16, with assets to be liquidated by September 23.
