Less than 2 days after submitting divide applications to the United states Securities and Exchange Commission (SEC), asset managers VanEck and ProShares have seemingly decided non to pursue exchange-traded funds (EFTs) with exposure to Ether.

In individual Friday filings with the SEC, legal representatives of VanEck and ProShares both said the firms had elected not to proceed with registering their respective Ether-based commutation-traded funds. VanEck had submitted a filing to launch an "Ethereum Strategy ETF" with the SEC on Wed, while ProShares applied for an "Ether Strategy ETF" the same day.

Both products had seemingly aimed to provide exposure to Ether (ETH) by investing in futures contracts also as pooled investment vehicles and other exchange-traded products. It's unclear why both asset managers chose to utilise for and withdraw seemingly similar applications for Ether ETFs on the same days, merely the two firms said they had non sold any securities connected to the potential offering.

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

SEC chair Gary Gensler said earlier this calendar month that he would exist more open to accepting ETFs based on crypto futures rather than through direct exposure. At that time, VanEck already had Bitcoin (BTC) and ETH exchange-traded funds under review by the bureau, but the company later filed a separate prospectus for a Bitcoin "strategy" ETF, a fund with exposure through BTC time to come contracts.