Asset manager WisdomTree has decided to withdraw its Ethereum Trust registration (S-1 filing) with the U.S. Securities and Exchange Commission (SEC), more than three years after submitting it. The firm made this announcement in a formal filing on September 6, 2024, confirming that no securities were issued or sold under the initial filing.
Request for Future Fee Credit
While WisdomTree won’t receive a refund for the fees paid for the filing, the company requested that these fees be credited for future use. The original S-1 filing was submitted in May 2021, aiming to list Ethereum ETF shares on the Chicago Board Options Exchange’s BZX Exchange. At that time, WisdomTree expressed confidence that the Ethereum market had matured to a level of efficiency and scale comparable to the Bitcoin market.
VanEck’s Similar Move
Interestingly, WisdomTree’s decision coincides with another notable move in the Ethereum ETF market. On the same day, asset manager VanEck announced it would close its futures-based Ether ETF due to a lack of demand. According to VanEck, factors such as performance, liquidity, and investor interest led to the closure. Shares of the VanEck Ethereum Strategy ETF (EFUT) will stop trading on September 16, with assets set to be liquidated and returned to investors around September 23.
