Lower than two days after submitting separate functions to the U.S. Securities and Change Fee, asset managers VanEck and ProShares have seemingly determined to not pursue exchange-traded funds with publicity to Ether.

In particular person Aug. 20 filings with the SEC, authorized representatives of VanEck and ProShares each said the companies had elected to not proceed with registering their respective Ether-based exchange-traded funds, or ETFs. VanEck had submitted a filing to launch an “Ethereum Technique ETF” with the SEC on Aug. 18, whereas ProShares utilized for an “Ether Technique ETF” the identical day.

Each merchandise had seemingly aimed to offer publicity to Ether (ETH) by investing in futures contracts in addition to pooled funding automobiles and different exchange-traded merchandise. It’s unclear why each asset managers selected to use for and withdraw seemingly comparable functions for Ether ETFs on the identical days, however the two companies mentioned that they had not offered any securities related to the potential providing.

Associated: SEC opens to comments on whether to approve VanEck Bitcoin ETF

SEC chair Gary Gensler mentioned earlier this month that he could be extra open to accepting ETFs primarily based on crypto futures slightly than via direct publicity. At the moment, VanEck already had Bitcoin (BTC) and ETH exchange-traded funds below assessment by the company, however the firm later filed a separate prospectus for a Bitcoin “technique” ETF, a fund with publicity via BTC future contracts.