WisdomTree Withdraws Ethereum Trust Filing with SEC
WisdomTree, a major US ETF provider, has withdrawn its Ethereum Trust S-1 filing with the Securities and Exchange Commission (SEC).
The company initially submitted the registration on May 27, 2021, but has not received a decision from the SEC since.
On September 6, WisdomTree requested the SEC to retract its Ethereum Trust S-1 filing. The firm indicated that no securities were issued or sold under this registration and opted not to seek a refund for the registration fees, instead requesting that the fees be applied to future applications per Rule 457(p) of the Securities Act.
WisdomTree’s move comes after it filed for an Ethereum ETF in 2021, following VanEck’s similar filing on May 7, 2021. At that time, the SEC was reviewing Bitcoin ETF applications from Fidelity and SkyBridge.
READ MORE: Ethereum Faces Revenue Shift as Layer 1 Fees Drop
In contrast, VanEck has decided to shut down its futures-based Ether ETF due to weak demand and the dominance of spot cryptocurrency ETFs. The VanEck Ethereum Strategy ETF (EFUT) will cease trading on September 16, with assets expected to be liquidated by September 23.
Additionally, WisdomTree recently received a Wells Notice from the SEC concerning alleged violations related to the management of three ESG-themed ETFs, which were closed in February. Despite potential penalties, WisdomTree maintains it has adhered to all regulations and plans to fully address the SEC’s concerns.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
