On May 23, following the approval of VanEck’s 19b-4 application, the company released a 37-second commercial to celebrate the approval of its spot Ether exchange-traded fund (ETF). The ad, titled “Enter the ether,” quickly gained positive reviews from the majority of the online community. Alongside well-known asset managers like BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise, VanEck now stands in good standing with the SEC thanks to the clearance of its application. However, before trading can begin, the SEC must approve the S-1 filings of all ETFs, which may take several months.
VanEck’s commercial raises an intriguing question about whether Ethereum can power an open-source, decentralized economy. With over 180,000 views and 1,200 reposts, the ad has proven to be persuasive. The online community has given it positive reviews, with many praising its originality and message. Colin Goltra, the operational head of Yield Guild Games, highly praised the ad and stated that it left an impression.
Some individuals took a more lighthearted approach to interpreting the commercial. “Mav,” one of the co-founders of DeGods’s exclusive club, commented that the ad represents the moment when traditional investors discover smart contracts.
This is not the first time VanEck has promoted its Ethereum-related products through advertisements. The company started advertising its Ethereum Strategy ETF (EFUT), a futures ETF based on Ethereum, in late September. In contrast, other asset managers who received 19b-4 approvals have remained relatively silent, unlike VanEck’s aggressive promotion of Ethereum-related products. Only a few have taken to social media to publicly express their approval.
In other news, a Coinbase executive recently classified ETH as a commodity after the approval of the ETF.