Spot Ethereum ETFs will begin US trading on July 23
Spot Ether (ETH) exchange-traded funds were given the final approval to begin trading in the United States on July 23.
On July 22, the United States Securities and Exchange Commission approved the final S-1 registration statements necessary for filing on their respective stock exchanges, including Nasdaq, the New York Stock Exchange and the Chicago Board Options Exchange.
Successful Space Ether ETF issuers include BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEyck and Invesco Galaxy.
Coming two months later, the SEC green-lighted their 19b-4 applications on May 23 – approving a rule change that would allow spot Ether ETFs to be listed and traded on their respective exchanges.
The iShares Ethereum Trust issued by BlackRock is listed on the Nasdaq, while the Grayscale Ethereum Trust is listed on the NYSE.
With the exception of Greyscale Ethereum Trust, all Spot Ethereum ETFs offer a base fee of between 0.15 and 0.25%.
However, Fidelity, 21Shares, Bitwise, Franklin and VanEck waive fees for their Ether ETFs until a certain period expires or their products reach a certain amount in net assets.
The Greyscale Ethereum Mini Trust waives fees for the first six months or until net assets reach $2 billion.
Biden exit, Ether ETFs could boost crypto.
The spot ether EFF was approved a day after US President Joe Biden withdrew from the 2024 election.
Related: Ethereum Outpaces Bitcoin After ETF Launch – K33 Research
Biden's decision to drop out of the race was described by eToro market analyst Josh Gilbert in a recent note to Cointelegraph as a “win for crypto assets”:
“The more we see Trump holding on to his reelection chances, the more crypto assets will be priced in by his victory.”
Industry analysts expect Bitcoin ETFs to capture 10% to 20% of the observed flows of Ether ETFs since these products launched six months ago.
Magazine: Bitcoin's $500K Prediction, Spot Ether ETF ‘Troublesome Case' — Thomas Fahrer, X Flame Hall
