The Latest Breaking News from VanEck

U.S. spot Bitcoin ETFs made history in January when they were approved for trading, but half a year since their launch, the funds' flows have "stagnated." Does this prove some early concerns about BTC ETFs being overrated?

The launch of VanEck's VBTC on the ASX drew attention to Australia's evolving views of the cryptocurrency industry, and it could further propel the Australian public's growing trust for Bitcoin as a suitable investment.

ProShares, whose Ethereum Futures ETF was among nine approved by the SEC in October, has filed for a spot Ether ETF, but with such a "late" filing, it is unclear whether the fund will launch alongside other funds that had their 19b-4 filings cleared.

Spot Ether ETFs may have a long way toward S-1 approval, at least based on SEC Chair Gensler's latest remarks that it will all fall on whether applicants are "responsive" or not.

VanEck, an applicant for spot Ether ETFs, has set a price target of $22,000 for ETH by 2030, calling the Ethereum blockchain's native token a form of "Digital Oil."

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"It's one of the biggest regulatory 180s in recent SEC history," VanEck told Fortune.

A co-founder of the Ethereum network, and the founder of the company that revealed how the SEC has deemed Ether a security since March last year, said the approval of spot ETH ETFs has become a matter of political interest.

Several spot Ether ETF applicants have submitted updated 19b-4 filings, suggesting that the SEC has finally provided comments on the applications and triggering a wave of optimism in the crypto industry for the funds that, unlike Bitcoin, have had a more difficult road toward approval.