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The U.S. Securities and Exchange Commission (SEC) has granted approval for the introduction of spot Ethereum ETFs from eight financial firms. The trading of these new investment products commenced on three U.S. stock exchanges.
In the United States, exchange-traded funds (ETF) linked to spot Ethereum (ETH) prices from BlackRock, Fidelity, 21Shares, Bitwise, Franklin Templeton, VanEck, Grayscale, and Invesco Galaxy received final clearance from the SEC following the submission of S-1 filings. This information was reported by Bloomberg, referencing informed sources.
The SEC took a duration of two months to authorize these new cryptocurrency-related investment products. Trading of spot Ethereum ETFs commenced on July 23 across three U.S. stock exchanges:
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- The Nasdaq will facilitate trading of the iShares Ethereum Trust ETF (ETHA) from BlackRock;
- The New York Stock Exchange (NYSE) will initiate trading of Grayscale Ethereum Trust (ETHE), Grayscale Ethereum Mini Trust (ETH), and Bitwise Ethereum ETF (ETHW);
- The Chicago Board Options Exchange (CBOE) will start trading five exchange-traded funds: 21Shares Core Ethereum ETF (CETH), Fidelity Ethereum Fund (FETH), Invesco Galaxy Ethereum ETF (QETH), VanEck Ethereum ETF (ETHV), and Franklin Ethereum ETF (EZET).
Most providers of spot Ethereum ETFs set a base fee of up to 0.25%. Grayscale’s ETHE fund has the highest fee at 2.5%, while Franklin Templeton’s EZET offers the lowest at 0.19%. Additionally, Fidelity, 21Shares, Bitwise, Franklin Templeton, and VanEck will waive fees for investors for a specified duration or until a certain asset management threshold is reached.
Analysts from Kaiko anticipate that the upcoming days will witness a surge of funds into spot Ethereum ETFs, which may adversely affect ETH prices. As per CoinGecko, in the last 24 hours, the asset’s price increased by 0.9% and stands at $3,525 as of 13:30 (GMT+3).
Efforts to launch spot Ethereum ETFs began in September 2023. Only nine months later, following unsuccessful attempts to classify ETH as a security, the SEC approved 19b-4 filings that permit the listing and trading of spot Ethereum ETFs on exchanges.
Сообщение Spot Ethereum ETF Trading Starts in U.S. появились сначала на CoinsPaid Media.
