WisdomTree, an asset management firm, has decided to withdraw its application for a spot Ether exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC).
The application was first submitted in May 2021, and the withdrawal was announced on September 6, 2023.
In its filing with the SEC, WisdomTree confirmed that no securities were issued or sold under the registration.
The company also acknowledged that it would not receive a refund for the fees it had paid to the SEC but asked if the fee could be used for future filings.
The ETF was meant to be listed on the Chicago Board Options Exchange (CBOE) BZX Exchange. When WisdomTree first applied, the company was hopeful about Ether market’s growth, comparing it to the earlier stages of Bitcoin’s development.
On the same day, VanEck, another asset management firm, also announced that it is closing its futures-based Ether ETF. The company said the ETF has a very low demand, poor performance, and lacks investors’ interest.
VanEck’s Ethereum Strategy ETF will stop trading on September 16, and the fund’s assets will be returned to investors around September 23.
Also Read: Bitcoin Price Declines as Crypto ETFs Record $1 Billion in Outflows Over 7 Days
