**Spot Ethereum ETFs Approved for NYSE Arca Listing**

Big news in the crypto world! The NYSE Arca has given the green light to list and trade spot Ethereum ETFs from Grayscale and Bitwise. This approval, confirmed in documents filed with the SEC on July 22, marks a significant step forward.

However, these funds still need the SEC's final nod before they can start trading. Analysts are optimistic, predicting a launch as soon as July 23. Bloomberg ETF analyst James Seyffart expects to see the ETFs' prospectuses go "effective" soon.

On a related note, the Chicago Board Options Exchange has also announced the launch of five Ethereum ETFs, including those from 21Shares, Fidelity, Invesco Galaxy, VanEck, and Franklin. These too await regulatory approval.

Retail investors can purchase these ETFs through brokerages like Robinhood or Fidelity, similar to buying other ETFs and stocks. Management fees are expected to range between 0.15% and 0.25%.

Bloomberg analyst Eric Balchunas suggests this could pave the way for other altcoin ETFs, like Solana's SOL. Increased institutional demand for ETH might lead to a supply shortage and higher price volatility, potentially driving ETH prices up. Currently, ETH is trading at $3,457, down 1.4% in the last 24 hours.