Asset management firm WisdomTree has asked to withdraw its Ethereum Trust S-1 application with US regulators, more than three years after it first filed.
“The Registration Statement was originally filed on May 27, 2021. The Company confirms that no securities have been or will be issued or sold under the Registration Statement,” the company stated in a filing with the U.S. Securities and Exchange Commission (SEC) on September 6.
WisdomTree acknowledged that it would not be reimbursed for the fees it paid to the SEC when it filed the registration statement, but requested that the money be credited “for future use.”
The initial application was filed in May 2021 for an Ethereum ETF to be listed on the Chicago Board Options Exchange’s BZX Exchange . At the time, WisdomTree stated that the Ether market “ is maturing to a degree that it can operate with similar efficiency and scale as the maturing Bitcoin market.”
This comes on the same day that asset management firm VanEck announced it would be shutting down its Futures Contract based Ether ETF , citing insufficient demand as spot crypto ETFs dominate inflows.
VanEck chose to close the fund due to factors “including performance, liquidation, assets under management and investor interest,” it said in a statement on September 6.
Cointelegraph reports that shares of the VanEck Ethereum Strategy ETF (EFUT) will cease trading on September 16 and the fund’s assets will be liquidated and returned to investors around September 23.
