BlackRock Ethereum ETF ETHA goes live with $ETH price recovering back above $3,500 and investors stay excited on the launch day.

Aday after the SEC’s approval of the S-1 submission for Spot Ethereum ETF, Blackrock’s iShares Ethereum Trust ETF has gone live for trading with the ETHA share now trading at $26.59 as of the opening bell.

BlackRock Promotes Ethereum ETF Launch

On Monday, July 12, BlackRock released a statement stating that the SEC has granted the registration of their spot Ethereum ETF and the ETHA shares will now track Ethereum’s native token ETH.

The BlackRock Ethereum ETF carries a 0.25% sponsor fee while offering a one-year waiver and a fee reduction of 0.12% on the first $2.5 billion in assets under management. Thus, BlackRock is pitching a direct competition with the Grayscale Ethereum Mini-Trust which carries a sponsor fee of 0.15%. Jay Jacobs, the U.S. Head of Thematic and Active ETFs for BlackRock said:

“Our clients are increasingly interested in gaining exposure to digital assets through exchange-traded products (ETPs) which provide convenient access, liquidity and transparency. Ethereum’s appeal lies in its decentralized nature and its potential to drive digital transformation in finance and other industries.”

With more than $10 trillion in assets under manager, BlackRock is the largest asset manager globally. Thus, with them launching the Ethereum ETF, more institutional money will flow over time into the asset class. The BlackRock Bitcoin ETF (IBIT) has witnessed massive success in the first six months of launch, with over $19.5 billion in inflows and over $22 billion in assets under management