Everyone knows that Grayscale dumped Ethereum, but do you know why Grayscale applied for two Ethereum spot ETFs? Several other large institutions only applied for one, but Grayscale applied for two. Why?

The two spot ETFs applied by Grayscale are Grayscale Ethereum Trust (ETHE) and Grayscale Ethereum Mini Trust (ETH).

ETHE is the world's largest Ethereum-based ETF, currently with assets worth $9.19 billion, and will charge investors a 2.5% management fee. The Ethereum Mini Trust ETH waived fees in the first six months or before accumulating $2 billion in assets, and will charge 0.15% thereafter. It is the most cost-effective spot Ethereum ETF in the United States.

On July 23, 2024, after approval by the U.S. Securities and Exchange Commission, the two Ethereum ETFs officially began trading on the New York Stock Exchange Arca. Grayscale Managing Director John Hoffman said the two ETFs will allow investors to take advantage of Ethereum's ability to create markets, reshape the financial system, and drive innovation through decentralized finance (DeFi) and other applications without directly managing Ethereum.

In preparation for the launch of the ETF, Grayscale transferred more than $1 billion worth of Ethereum to Coinbase on July 22. And Ethereum holders will receive new Ethereum-backed products at a 1:1 ratio, thereby avoiding any capital gains tax impact.

When you understand why Grayscale applied for two Ethereum spot ETFs, you will not be afraid of Ethereum's short-term rise and fall! One is the Ethereum spot ETF with $9.19 billion, and the other is the Ethereum mini spot ETF that started from scratch. What do you think of these two Ethereum spot ETFs? Welcome to leave a message in the comment area!

The above content is for information sharing only and does not constitute any investment advice! Investment is risky, so be cautious when entering the market!

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