Vanguard Reiterates No Plans for Ethereum Spot ETF

IconCryptoNewsTerminal Staff23 Jul, 2024

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Vanguard Reiterates No Plans for Ethereum Spot ETF

Vanguard has reiterated its stance that it does not plan to offer an Ethereum spot exchange-traded fund (ETF) in a statement shared with Bloomberg ETF specialist Eric Balchunas. Balchunas shared the statement via his Twitter account on Wednesday, responding with "no shock given they haven’t launched a BTC spot ETF." Vanguard’s decision not to offer an Ethereum spot ETF is not surprising, given that it has not yet launched a Bitcoin spot ETF. The company has previously stated that it is taking a “thoughtful and deliberate” approach to the development of crypto-related products. While Vanguard may not be planning to offer an Ethereum spot ETF, other companies are moving ahead with plans to do so. Grayscale Investments, the world’s largest digital asset manager, has filed for an Ethereum spot ETF with the Securities and Exchange Commission (SEC). If approved, the Grayscale Ethereum Spot ETF would be the first Ethereum spot ETF to trade in the United States. The SEC has yet to approve any spot ETF, but the agency is expected to make a decision on Grayscale’s application in the coming months. If approved, the Grayscale Ethereum Spot ETF could provide investors with a new way to gain exposure to Ethereum.

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